The negative reaction to earnings combined with a market that is technically extended and hitting resistance levels is causing a drop into the open.
Investors need to focus on the long-term prices of oil, as well as the near-term, to make their investment decisions.
We are still short-term overbought, but not yet intermediate-term overbought and breadth is a bit better -- it's time to look at the statistics.
Oil isn't really worthless and Amazon isn't the only retailer that will survive, but we are in a mixed up market thanks to Covid-19.
Investors struggle to reconcile some positive action with economic issues that are looming -- but remember that price action outweighs the headlines.
The May oil futures contract is in free fall as the excessive supply of crude amid diminished demand threatens to create ongoing chaos for the market.
I have to believe that a few more weeks of lower oil prices and we will see more bankruptcy filings.
Let's review the charts and indicators.
The vast majority of the universe of ETFs are vulnerable to market dislocations.
Friday is the April expiration for S&P 500 index options -- and that can explain more or less why the market has been so tightly pinned.