The Strength of the Market is: Strong
Financial Markets seem to be turning more optimistic, even with the ongoing health pandemic keeping the economy in a difficult situation. With momentum from better-than-expected results from motor vehicle sales, factory orders and jobless claims, the S&P 500 stock index is trying to close in on its pre-pandemic all-time highs from mid-February. In addition, investors are hoping for continued positive momentum in the stock market, awaiting the next round of financial stimulus from the U.S. Congress. Many economists have targeted September as to when the next round of stimulus will come.
Stock markets from the United States and around the globe are trending strong, as they are all above their short (21-day), medium (50-day) and long-term (200-day) price averages.