The Strength of the Market is: Strong
Today, news of record high infection numbers and deadlocked stimulus negotiations didn't sit too well with the stock market. In addition, new European lockdown measures and next week's Presidential Election have investors feeling a little bit uneasy. To look at things half-glass full, most economic news is coming in strong. In their most recent reports, Jobless Claims and Home Sales both beat expectations. In a busy week ahead, Coronavirus will get top priority but investors should not forget about the release of important data points like GDP, Investor Confidence, Consumer Confidence and well over 1,500 companies that will be reporting their Corporate Earnings.
Even with today's largest one-day drop since September 3, our price-trends research still shows a positive indicator for the stock market.