When we said to expect turbulence it was an understatement. The past week has been the largest point swings, up and down, in stock market history. We are flying in a hurricane.
The problem is of course no one knows just how bad this will be. An economic speed bump or full blown recession? A Pandemic or a bad flu season? A correction or a bear market?
Most would agree that we are in the early stages of the outbreak here in United States and it is likely to get worse before it gets better. Judging from past pandemics, it is likely that the stock market will follow a similar trajectory. As such we would remain on the defensive until negative signs abade.