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Stocks may be due for a near-term bounce after worst day since 1987, trader says

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Stocks may be due for a near-term bounce after worst day since 1987, trader says (via TradingNation)

"We're starting to see some signs of real capitulation in the last couple of days," Maley said.

With trading volumes skyrocketing and whole swaths of the market hitting new 52-week lows, the panic could lead to a sustained bounce in equities sooner rather than later, the strategist said. Mark Tepper, president and CEO of Strategic Wealth Partners, sees the odds of a recession occurring "going up every single day."

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TradingNation I think we had the near term bounce a few days ago and then carnage got worse.

TradingNation BlueHorseShoe Loves Anacott Steel

TradingNation Dead cat bounce

TradingNation They'll be trending down for weeks more... The US is likely to have hundreds of thousands of deaths... That's not an environment in which the market will rebound meaningfully.

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