After a bloody couple of days, the North American indices try not only to sustain the opening gain, but to extend the buying pressure to an appreciation that halves the debacle of the previous session. Be it a mere technical rebound note or a more serious stabilization is something that for now is too early to be able to gauge beyond some indications, since the most immediate and visible consequences of the progression of the coronavirus epidemic outside China only now they are beginning to show signs, with the increase of cases in Europe and the Americas, which will bring some caution in these markets in the short term.
A positive sign is the fact that the number of cases outside China for the first time exceeded those in the Asian country, which if we take into account that the progress of contagion is like a series of waves we can expect that if there is not a disruptive event in the affected countries then the danger may decrease in the coming weeks, not least because there are already several reports of potential vaccines and/or more effective treatments against the virus. In short, the next few days will be important to understand the consistency of the sentiment and whether after 10 years of bull market there is a desire to force the market to make a real correction, something that has not happened in the last decade.
