Big rebound in markets this week with an upbeat jobs report.
From a stage analysis perspective, we have the following:
- DOW & S&P : Stage 4. The 30 week moving average is still sloping down or is flat.
- NASDAQ: Stage 1: Closing price above the 30 week moving average and the moving average is sloping upward
The CNN Fear and Greed index is showing a little bit of improvement the first time a long time.
Many areas in the US are re-opening in phases and fingers crossed, we can re-open without a resurgence in cases. We all need to get out of the house!!
Well we're at the end of May and it's been a ride! Markets rebounded and there is hope, at least here in New York, that we can start to re-open. NY has a 4 phase approach. Note, all have extensive rules, see the official page for more information.
- Phase 1:
- Construction
- Agriculture, Forestry, Fishing and Hunting
- Retail - (Limited to curbside or in-store pickup or drop off)
- Manufacturing
- Wholesale Trade
- Phase 2:
- Offices
- Real Estate
- Essential and Phase 2 in-store retail
- Vehicle sales, lease, rentals
- Retail rental, repair and cleaning
- Commercial building management
- Hair salons and barbershops (Yay)
- NOT OPEN:
- Malls
- Dine-in and on-premise restaurant or bar service, excluding take-out or delivery for off-premise consumption;
- Large gathering/event venues
- Gyms, fitness centers, and exercise classes,
- Video lottery and casino gaming facilities;
- Movie theaters, except drive-ins; and
- Places of public amusement
- Phase 3:
- The guidelines below apply to non-essential businesses in regions that are permitted to reopen, essential businesses throughout the state that were previously permitted to remain open, and commercial and recreational activities that have been permitted to operate statewide with restrictions
- NOT OPEN: Restaurants and dine-in
- Phase 4:
- NOT OPEN:
- Arts / Entertainment / Recreation
- Education
Holy Cow! Can it get any more confusing??
The stock market on the other hand is more direct. Markets appear to be making a recovery with the major indexes either above their 30 week moving average or about to break through and above it.
