The stock market’s three day win streak may be in jeopardy.
Canaccord Genuity’s Tony Dwyer warns the S&P 500 just hit a level that sets the stage for another meltdown as the country copes with the coronavirus impact.
“We put 2,575 as a level for this relief rally,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Thursday.
The S&P 500 is coming off its biggest three day gain since 1933. On Thursday, it closed up more than 6% to 2,630. However, it’s still almost 23% off its record high.
Dwyer cites human nature of fear as the likely catalyst to interrupt the…