US stocks turn negative in the final minutes of trading. The Dow had risen more than 900 points this morning on continuing signs the coronavirus pandemic is abating in some of the worst hit areas. New York's Gov. Cuomo says the state is reaching a plateau of daily hospitalizations even as it reported its largest number of deaths in a single day. Spain and Italy see new infections and deaths flatten while Wuhan lifts its travel ban. The Dow falls 0.1% to 22653, the S&P 500 gives up 0.2% to 2659 and the Nasdaq declines 0.3% to 7887. Ten-year Treasury yields climb above 0.7%. Oil prices sink 9.4% on increased inventory.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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