The Strength of the Market is: Strong
Updated: Nov 30, 2020
Despite today's market losses, November ended with the S&P 500 having its best performing month since April, the Dow Jones' best since January of 1987. Optimistic investors - focused on trial data from vaccine companies - have been ignoring the continued rise in coronavirus cases and deaths. If the pandemic cannot get under control, an economy of uncertainty may arise with the potential of new lockdowns, restrictions and travel advisories. Last week, economic updates showed mixed results:
•National Activity - better than expectation
•New Home Sales - better than expectation
•Consumer Confidence/Sentiment - worse than expectation
•Jobless Claims - worse than expectation
This week, economic updates on Manufacturing, Vehicle Sales, Employment and Construction may help guide markets and investors.
The historic stock market rally of November keeps the Hygge Advisors' price-trends & momentum research at a fully strong signal.