Better than expected numbers in Consumer Confidence and New Home Sales, additional vaccine development and increased economic activity have all been good for financial markets. As of last week, 34 U.S. States have reopened, with an additional 10 States announcing regional re-openings. The comeback from the coronavirus selloff looks to be in full swing as the U.S. stock market is now above its Long-Term Trend (200-day).
Our 'Strength of the Market' view, since last week, has increased to: Strong