Joel Elconin – Trading Strategies Around The Current March Market Madness
Joel Elconin, co-Host of The Benzinga PreMarket Prep Show and Editor of The PreMarket Prep website, joins us to share some trading strategies around the continued market volatility due to banking concerns and upcoming Fed policy tightening expectations. This is what he has dubbed March Market Madness.
We take a look at the recent moves in the S&P 500 at where Joel sees technical support and resistance levels. Next we discussed the bid that safe haven assets like bonds and gold are receiving in light of the recent turbulence and financial concerns. With regards to the energy sector, Joel has remained bearish on oil and oil stocks and doesn’t see anything on the horizon that changes his views and feels the sector is more fairly valued at present. We wrap up with the trend of investors also rotating into the safety of larger tech leaders with good cashflows.