The vaccine rally! Today’s gap up in the Dow gapped up through the all-time high and trading above that level. The S&P 500 also trading in all time high territory. The prospects of a second vaccine with extremely high favorable results makes the future obviously looked better. The stay at home stocks are selling off and the getting out stocks showing good strength. The indecisiveness of the indexes are becoming less indecisive based upon announcements about the vaccine. Continue to be stock/sector specific but biased toward the upside. Currently, there are no signs of bearish investor sentiment.
November 16th Daily Market Comments
The vaccine rally! Today’s gap up in the Dow gapped up through the all-time high and trading above that level. The S&P 500 also trading in all time high territory. The prospects of a second vaccine with extremely high favorable results makes the future obviously looked better. The stay at home stocks are selling off and the getting out stocks showing good strength. The indecisiveness of the indexes are becoming less indecisive based upon announcements about the vaccine. Continue to be stock/sector specific but biased toward the upside. Currently, there are no signs of bearish investor sentiment.