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Nothing like a little politics to kill a rally. The Dow was up over 1300-points at its high yesterday before very late announcement that the stimulus package was being held up by a few senators. The Dow ended the day up an impressive 496-points, or +2.39%, but stocks went out with a thud with the Nasdaq actually closing in the red.

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The market rallied vigorously on another Turnaround Tuesday. The Dow gained a record 2113-points, or 11.37%, which led the three major indices. We've seen these days before and they've turned out to be one hit wonders so far this month, so investors may be skeptical going into Wednesday. Bonds were up, and the dollar was down. There are some good signs, and maybe some bad, as we'll talk about below.

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The market continued its volatile ways with another 3% move in the Dow on Monday. Meanwhile we did see some pockets of strength and the Nasdaq was actually turning positive with 5 minutes left in trading, but that last 5 minutes sent it to the red side again. Smalls caps were down but still outperforming with a loss of less than 2%. That's where we are today - where a 1.88% loss is a small victory. Bonds and gold rallied sharply, and oil was up slightly.

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Stocks continue to succumb to the outbreak of the coronavirus as investors, traders, and money managers try to put a number on the impact it will have on the economy and corporate earnings. After a positive morning for stocks on Friday, the bears took over in afternoon trading and put the pressure back on. The Dow gave up 913-points with losses near 4% or more in most of the major indices. Bonds rallied but they remain volatile as well.

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Cash remains king as market turmoil continues. Selling remains aggressive and even got worse this week for U.S. stocks. The detrimental economic effect of the coronavirus outbreak is rippling through the states and the markets continue to express it. More states are beginning to mandate nonessential businesses to close, jobs have been lost, and many struggle to find a way to pay their debts. The necessity then becomes to access cash and we are seeing that cash leave stocks and bonds. This was apparent ...