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The Biden Bounce: Spoiler Alert

ByCandy Matheson
Published 03/04/2020, 04:05 PM
Updated 07/09/2023, 06:31 AM

CNBC is all atwitter with excitement proclaiming Wednesday's spike in stocks the "Biden Bounce" after his wins in Tuesday night's Democrat Super Tuesday state primaries.

The following S&P 500 weekly chart shows a 1-week MA (ohlc4 -- blue cross).

By 1:25 pm ET on Wednesday, price was just above last week's MA of 3081.87. We'll see if price holds above that, or retests this week's MA of 3039.325, or lower.

Spoiler Alert

Pay close attention to my posts here, here and here with respect to the negative consequences of a Joe Biden presidency for the next four years.

By the way, he's not president yet, nor is he the Democrat nominee, so, in reality, market action/sentiment would, no doubt, be driven by President

Trump's policies (and other factors) until, at least, January 2021.

As President Obama was fond of saying during the 2016 presidential campaign, "There is only one president at a time."

Weekly S&P 500

Latest comments

I agree that this a dead cat bounce. And that cat has cognitive damage. He may bounce but he’s not falling on his feet. You can bury that cat after it bounces off the Trump tarmac.
The market knows that Biden against Trump ensures 4 more years of pro business sane policies.
Candy...I just read your article and immediately realized why I’d never heard of you.
its not a bounce. its a weighted drop in the likelyhood of an economic ***(Bernie) becoming president
I agree, the “Biden bounce” is pure nonsense, as if the market cares about that at all.
It was the one day biden bounce. Love the emergency and economic emergencies underlying that was taking the market down still exist. All this did, was make the market even more expensive and it will drop even further now to retest 2850 and lower. And you will see that quickly over the next day or two. Hundred percent uncertainty, you’re not going right back to all time highs. So whoever believes that should not be investing
Was a dead cat bounce one day. The 10 year bond the outrageous and uncontrollable economic slowdown from coronavirus. The doubling and tripling of cases in the US and in Europe and the globe and the underlying fundamentals have not changed. I see us going back to 3000 tomorrow. Or lower. There was no reason for this very very low volume technical bounce. 2850 is in play this week
Democrats can't get out of their own way. Biden is gonna get smoked.
You would think but killary won the popular vote against trump and she is highly unlikeable - it will be closer than many people think
 Take Hillary, Biden and Bernie to the country you were born
Correct! Besides Biden doesn't even know what day it is and thinks he is running to be Senator... He even introduced his wife yesterday as his sister!!!
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