The Strength of the Market is: Weak but Strengthening
A slowing number of COVID-19 related deaths & infections have financial markets optimistic. Although encouraging, it is far too early to tell if virus numbers will continue to decrease. Jobless claims, a potential mortgage crisis and corporate earnings are all big concerns. Stock markets - U.S. & International - look to have hit their short-term lows on March 23rd. And, even with a nice market rally since then, prices are still roughly 15% below what we consider to be a healthy long-term market-trend (200-day). Financial markets will likely continue to act erratic, moving up and down, as updated virus news is released.
Our 'Strength of the Market' view, since last week, remains: Weak but Strengthening