Friday marked the highest number, since May 1, of newly confirmed coronavirus cases, in the United States. With new data on the virus spread becoming known, some businesses, like Apple, are temporarily shutting down again. And, even though Covid-19 fear remains very high, governments are proceeding with reopening their economies. Over the last couple of months, as stock markets have sharply risen, a euphoric state has started to show itself for many investors - a clear sign that caution should remain while investing.
Euphoria or not, the U.S. stock market has been the strongest performer during the pandemic recovery, well above its long-term trend (200-day). In addition, both, International and Emerging Market stocks are sitting very close to their long-term trends (200-day), a sign that each market is currently healthy.