Gamestop mania looks like it has come to an end. It was an interesting ride!
Gold appears to be in stage 3 to me as its 30 week moving average is flattening and price is moving under the moving average.
Some interesting stocks to keep an eye on as they look like early stage 2:
Looks like we are finally getting a bit of a correction.
There has been lots of turbulence and excitement over the last couple of weeks related to GameStop and the Robinhood app. (New York Times article)
Individual investors are still alive and kicking, and reading on reddit apparently. (CNN business article)
Meanwhile, back to stage analysis... while we had the first downturn in a while, the indicators are still green. A pullback will be welcome and logical.
Here is a quick breakdown of how 2020 fared for stocks.
Not a good year for the DOW in comparison to the other indexes. Great year otherwise.
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.
