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Tuesday and Wednesday mark the Dow’s first back-to-back gains since the first week of February.  This past week the DOW is up nearly 10%.  

Just North of the Border, approximately one million Canadians applied for jobless claims last week which represents nearly 5% of the labor work force in Canada.   Lets put this in perspective. According to Statistics of Canada, the previous record for an entire month was 499,200 in 1957, according to Statistics Canada data.

At home, California Gov. Gavin Newsom said that one million unemployment insurance claims have been filed since the coronavirus pandemic began.

The number of COVID-19 cases continue to increase in New York.   Gov. Andrew Cuomo said pace of infection in New York state is doubling every three days.  The number in cases in New York are now over 30,000. Gov. Cuomo also stated that the number of hospital beds needed at the peak of COVID-19 cases increased from 110,000 to 140,000 and urged other states to get ready for what will come their way.

<blockquote>

But worrying technical indicators and continued uncertainty regarding the COVID-19 pandemic will make this equities rally short lived, according to Mark Newton, a closely followed independent technical analyst.

He forecasts another rally to take place sometime this spring that will be more resilient, but still sees stocks ending the year lower than they began.

“You want to use any bounce in the weeks to come to sell into, and we’re going to have additional declines over the next 12 to 16 months,” Newton said, though he believes 2020 will end with only modest declines in the major indices. “Next year will be the year that will be really nasty.”

</blockquote>

<center><a href="https://www.marketwatch.com/story/coronavirus-stimulus-package-is-short-term-bullish-but-stock-market-could-turn-nasty-in-months-ahead-analyst-says-2020-03-25?siteid=yhoof2&yptr=yahoo">Source</a></center>

It’s important to note, Bear Markets don’t go down in a straight line, there are often pull backs.  It’s also important to note that Bear Markets don’t stop at a dime and move higher.  It’s also important to note that Bear Market have a bottoming process, where you can see a rally, followed by a retest or even a lower low.  Take the Great Recession as an example.  Price made lower highs and lower lows as it's bottoming process in 2009.

![](https://cdn.steemitimages.com/DQmUdqwHnqSYfimfC4vCAqDoyhMgGn4QQdATsjmx2UxtCQe/image.png)

So I’m with Mark on this one, I don’t think we have bottom because of the unknown that is yet to come and the bottoming process in 2020 is just beginning.

![](https://cdn.steemitimages.com/DQmdMyLCF3HErELjUyc1i25HCYYmsqk5mbr1rza7oe6XZT4/image.png)

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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