The DOW closed at all time high last Friday while the US capital was under mob attack on Wednesday. The bull market doesn’t care whatever happens on the main street. It cares only about the money, when there is so much money on the sideline, it has to go somewhere!
The DOW closed at 30606.48 at the 2020 year end which is bullish but not in a breakout position. In order for the DOW to be in a breakout position, it had to close above 31291 to carry the market higher with momentum. The S&P 500, NASDAQ and small cap Russell 2000 index are all in confirmed
Last week the market had a little pause while the virus has been ravaging the country. The stimulus uncertainty was another contributing factor that the market took a break. However, the selling volume has been really low, we can’t find active sellers across the board.
We hope everyone had a great and safe Thanksgiving Holiday! November was one of the best months ever for the market. The November rally broadened quite dramatically the small cap and mid-cap stocks. It was just a great month for the market. The market already had its Santa Claus rally in November.
It has been a costly mistake if you have not invested in the market due to the concerns of Covid-19 pandemic. The market has discounted the impact of the pandemic as a whole except a few select sectors due to the unprecedented support from the monetary and fiscal policies. While still deep in the uncertainties related to the presidential election,
