The Strength of the Market is: Weak but Strengthening
Investors, although nervous, have mostly shrugged off the highest unemployment numbers since World War II. The U.S. stock market is up 33% from its March lows - getting a bounce, last week, from U.S. states re-opening (25 States have partially re-opened, 6 States have orders lifting or re-opening soon). Covid-19 treatments, large scale testing and additional economic stimulus will be major focuses of financial markets in the coming weeks. The U.S. stock market continues to be the strongest around the world, just slightly under its long-term (200-day) price trend.
Our 'Strength of the Market' view, since last week, remains: Weak but Strengthening