The Strength of the Market is: Strong
Investors would like to forget about last week - the worst weekly loss for stocks since late-March. Well, November started with recovering some of those losses, as the S&P500 finished today up over 1%. Even with better-than-expected GDP Numbers, Jobless Claims & Corporate Earnings, ongoing volatility should be expected with the US Election - especially, if results are delayed or contested - and with another round of pandemic-related economic shutdowns around the world. In addition to all the excitement of the Election, this week brings important insights into the economy from Manufacturing Data to Vehicle Sales and our Employment Situation.
Last week was rough and a weakening trend is starting to show itself. Still, our price-trends and momentum research is giving us a positive signal for the global stock market.