The market continues to go full steam ahead. All indicators are green.
Cryptocurrencies are also doing well. Bitcoin stockcharts link.
Appears to be in stage 2 or stage 3.
COVID vaccines are being distributed worldwide and the hopes are that we can start to get back to normal in the spring.
There has been some changes in the market as we get news that the FDA approved emergency use of the COVID-19 vaccine. "While not an FDA approval, today’s emergency use authorization of the Pfizer-BioNTech COVID-19 Vaccine holds the promise to alter the course of this pandemic in the United States,” said Peter Marks, M.D., Ph.D., Director of the FDA’s Center for Biologics Evaluation and Research.
With anticipation that the other vaccines will also get approved, and preparation for distribution of the Pfizer-BioNTech vaccine, there is some hope on the horizon.
Now may be the time to trim gold if you have it. With the good news on COVID and the Gold ETF moving below it's 30 week moving average line, gold may be moving into Stage3. The moving average line itself is starting to flatten out. We will see.
It defies logic considering how bad the economy is, but the market is spiking up. CNN's Fear and Greed indicator is the highest I've seen. Extreme greed.
All of the indicators are currently green. COVID vaccine news continues as more options came out this week. Five are in Phase 3 trials.
As of November 24, 2020, large-scale (Phase 3) clinical trials are in progress or being planned for five COVID-19 vaccines in the United States:
The market seems a little frosty to me. Gold broke below it's 30 week moving average. Tread lightly.
The markets are remaining positive and gold is showing signs of moving into stage 3. The moving average line is still on an uptrend however the weekly end is sloping down. This week brought news of multiple COVID-19 vaccines and some hope. Both
Pfizer/BioNTech and Moderna announced positive results.
Bitcoin is seeing new highs.
The stock market had a nice bounce this week while we wait for the results of the Presidential Election. It's pretty close. According to The Associated Press, as of this morning, it Biden has a small lead over Trump. If it plays out anything like the Bush vs. Gore election, we may have to wait until December to know who wins.
In 2000, the markets were already on a downturn prior to the election so I would be careful in making any predictions on the impact of this one on the market. Plus, we have the whole COVID pandemic to deal with and there is no comparison to that in 2000.
From a stage analysis, we are still in Stage 3.
Not much change in the stock market. It continues to hold steady. The Moving Average line on the global DOW is not slanting upward which is a positive sign.
With the election a couple of weeks away, Stock Chart's Three Takes on the Presidential Cycle article by David Keller is timely. Stan talks about presidential cycles in his book and I think Tom McClellan pretty much presents a similar viewpoint.
It's been awhile since we've looked at COVID-19. I am hoping the two charts below from the CDC provide some glimmer of hope. Cases are going up, but deaths are not.
News that President Trump has contracted COVID-19 made headlines on Friday. He appears to be doing better as of this morning (WSJ).
It's possible the major indexes are in stage 3. Gold continues to be in Stage 2 but is showing signs of possibly moving into Stage 3 as well. Stimulus talks are in the works.
CNN's Fear & Greed went into greed last week. It's been in greed for awhile.
We will see.
