Big news is giving investors a rough time. This is mainly because, independent of the bad news they are preaching (mainly Virus), it is bad news for us whether it true is or not. Remember, the markets can tolerate "actual" bad news, but it cannot tolerate "Uncertainty" !!! And remember, in times like this, markets take the stairs up and the elevator (or jumps) down.
The market (SPY) has reached what I would call a critical support level on the close today at about $274.36. Before a real bad total "CRASH" takes place, the SPY has only one more "support level" (at $234.34 or almost 15% lower than today's close) before free falling. Just going to that support level after what we are going through now will feel almost as bad as a total "crash". We need to watch the next few days carefully. Of course, we could almost guarantee that MIPS would go short well before taking a fall like that (unless it happens in one day).
CEO / Founder
MIPS Timing Systems