Thursday’s trading has a feel of sentiment change

Thursday’s overall trading in stocks, bonds and commodities has a feel that the bottom may be near or it is in.

The President’s address that some existing medicines could be used as therapies for the Covid-19 outbreak may have changed sentiments of some investors that there could be an earlier end to this pandemic.

Naturally the number of infected people in the world will grow for some time to come, however the fatalistic outlook that would accompany such news may be lessening.

The reason for my change in thought on today’s trading comes from the broader uptick in the market. Equities, commodities and bonds are all movng higher despite the stronger dollar.

How long will this sustain itself is anyone guess, but this is what a sentiment change would look like at the very beginning. A few dip their toe in and some say it’s OK and buy more.

So putting in a bottom at 19,200 on the Dow Jones may be it.

Let’s see if it sticks.

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