Stocks were deeply red in Monday's trading session following breakdown below their last week's short-term consolidation. The market retraced most of its recent advance from the early March local low. Will medium-term downtrend resume? Or is this just consolidation following relatively strong rebound off February 9 yearly low? There are still two possible future scenarios.

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Stocks extended their short-term consolidation on Friday, as investors continued to hesitate following Tuesday-Wednesday move down. The broad stock market failed to continue its rebound from February 9 low last week despite technology stocks reaching new record highs. There are still two possible future scenarios. Or maybe three, but the third one is the worst.

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Thursday's trading session was virtually flat, as investors hesitated after recent move down. The broad stock market failed to continue its rebound from February 9 low despite technology stocks reaching new record highs. Investors' sentiment worsened again following economic news, trade war fears. Is this a new downtrend or just downward correction before another leg up?

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Stocks extended their short-term losses on Wednesday, as they retraced most of last week's Friday's rally. The broad stock market failed to continue its rebound from February 9 low despite technology stocks reaching new record highs. Investors' sentiment worsened again following economic news, trade war fears. There are still two possible future scenarios. Or maybe three, but the third one is the worst.

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Tuesday's trading session began with a rally, but then stocks reversed lower and the broad stock market fell 0.6% vs. Monday's closing price. The S&P 500 index bounced off 2,800 mark again. It remains at that resistance level after retracing most of its late January - early February 12% sell-off. Is this a new downtrend or just consolidation following last week's move up?

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