If there's any large cap that I think actually might benefit from the presence of the virus... it might be FB.
SPX is about to test its 1x1 on the low end and I think we might get a dead cat bounce soon and draw some kind of bear flag. But fundamentally speaking, the lack of public interaction would probably promote more virtual interaction, which is FB's bread and butter. FB also has zero exposure to china.
That said if the market continues to dump FB will go with it, but in the mean time I think its worth scalping. Ended at the extreme end of a bullish shark reversal zone. If NQ can get a bounce off its 50WMA then I think FB will likely make a .5-.618 retrace here.
SPX is about to test its 1x1 on the low end and I think we might get a dead cat bounce soon and draw some kind of bear flag. But fundamentally speaking, the lack of public interaction would probably promote more virtual interaction, which is FB's bread and butter. FB also has zero exposure to china.
That said if the market continues to dump FB will go with it, but in the mean time I think its worth scalping. Ended at the extreme end of a bullish shark reversal zone. If NQ can get a bounce off its 50WMA then I think FB will likely make a .5-.618 retrace here.