The Strength of the Market is: Strong
Vaccine Optimism brings additional strength to an already strong stock market. Investors are, also, excited as the President-elect, Joe Biden, begins announcing his first administration nominees, including former Federal Reserve Chairperson, Janet Yellen, as Treasury secretary - who oversaw an economic expansion between 2014 and 2018. The economy continues to show progress. Last week:
•Housing - better than expected
•Retail Sales - in line with expectation
•Jobless Claims - slightly worse than expectation
In a holiday shortened week, financial markets will be watching reports on National Activity, Consumer Confidence & Sentiment, Jobless Claims and New Home Sales.
Stocks keep going up and our price-trends & momentum research continues to show a fully strong signal for global stock markets.