As the Coronavirus outbreak continues to spread, so has investor fear. Travel restrictions and factory closures have many scared that the global recovery could be derailed. Although, the true economic impact is still unknown. Since last week, world markets have weakened further and has now dropped below both our short-term and intermediate-term trend lines. US stocks have held up the best with International Markets, especially Emerging Markets, being hit the hardest by the outbreak.
Our 'strength of the market' view has slightly changed to Strong but Weakening.