Last week, the Dow fell down 360.91 points closed at 21052.53, the NASDAQ fell down 114.23 points closed at 7373.08, and the SP 500 fell down 38.25 points closed at 2488.65. Because of the Wall Street volatility caused by the Novel Coronavirus pneumonia, both the Dow and SP 500 fell down more than 25% from their highest point in February.

On Friday, Mohamed Erian, Allianz's chief economic adviser, said:’ Because of the uncertainty of the Novel Coronavirus epidemic, the stock market has yet to reach the bottom. Unless the market is really down a lot, or there is good news on the medical side, the negative impact on the economy will continue.’

Technical analysis

DJ 30 Trading suggest

Make short positions at current price $21000

Target   $20400

SP500 Trading suggest

Make short positions at current price $2480

Target   $2300

Focus stocks

Apple (241.41, - 3.52, - 1.44%) was downgraded by Credit Suisse (7.74, - 0.15, - 1.90%). In addition, Morgan Stanley lowered Apple's target price to $298.

Trading suggest

Make short positions at current price $241

Target   $226

Amazon

Trading suggest

Make long positions at current price $1903

Target   $1973