The Strength of the Market is: Weak but Strengthening
Positive data from early-stage vaccine trials has started the week off with optimism. Still, financial markets are trying to determine how quickly and safely the economy will get back up and running. As of last week, 33 U.S. States were partially re-opened, with an additional 7 States having their orders lifting soon. And, even with 36.5 Million Americans filing for unemployment, the Federal Reserve expects a full recovery once a vaccine for COVID-19 is found. Today's vaccine optimism is helping stock markets around the world get back to a healthier level - the U.S. stock market is now within reaching distance of its long-term price trend (200-day).
Our 'Strength of the Market' view, since last week, remains: Weak but Strengthening