NASDAQ Update (Trading) Monday 03/16

There wasn't any good news today either. However, the stock went up really fast more than expected after Trump declared the national emergency.
This could be one of the 2 reasons:
+ Short-seller realized and secured their gains from last week, this included options. This is a reasonable action because of some huge changes from the Government might happen next week. This week alone, they have stepped in the market 4 times, including today (pumping money into the stock market (private sector), cutting interest on loans for students, signed a bill of 50 billion dollars for COV-19 counter. Still, this only helps the economy temporarily. Until the vaccines are deployed, people still see the red market.
+ Private sectors are down by 50%, which is a good buying signal. Some took this opportunity and purchased them.
Technical: Not really time to buy because stocks fell 1.5% within minutes after hitting the resistance line (blue), proving it was a weak buying trend.
Things to do: Wait for news, be patient before hopping right in.