The S&P 500 (SPX) has surpassed its previous high among a global pandemic and an uncertain economy. The index is up almost 11% year-to-date, as investors anticipate more good news regarding a COVID-19 vaccine. Nonetheless, it proved a strange week in price action terms as Monday’s 4% gap up was almost erased by the end…...
And wouldn’t you know it; the S&P 500 hit an all-time high Monday (3,646) and the strategists followed with upgrades to their macro-outlook and S&P 500 price targets. Isn’t that just always the way? When prices rise, so do price targets while sentiment becomes increasingly bullish. When prices fall the analysts encourage a deeper consolidation…
The equity market is facing one of the best backdrops for sustained gains in years. After a prolonged period of elevated risks (global trade war, COVID-19 pandemic, US election uncertainty, etc.), the outlook is significantly clearing up, especially with news of a highly effective COVID-19 vaccine. We expected an imminent vaccine outcome and a rotation…...
We remain committed bulls over next 6-12 months. When bull markets simultaneously begin with a new economic cycle, they typically last for years,not months or quarters. As such, we believe this bull market has a long way to run both in time and price. Our calls for a 10% correction in August and then again…...
Welcome to another trading week!! In appreciation of all of our Basic Membership level participants and daily readers of finomgroup.com content, we offer the following excerpts from our Weekly Research Report. Our weekly Report is extremely detailed and has proven to help guide investors and traders during all types of market conditions with thoughtful insights and analysis, graphs,…
After a significant 1-week drawdown in the major averages 2 weeks ago, the market had an even greater resurgence this past trading week. The equity markets may have caught a great many investors by surprise, but for those who “stayed the course“, remained unbiased and flexible, these are the traders/investors who proved the beneficiaries of…...
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review this week’s SOTM. In this week’s episode, we review the decline that was October and the potential market returns for November and beyond. The market has responded to the election with a robustness of breadth and has moved to focus…...
Correction right on schedule.2 weeks ago we called for a second 10% correction in as many months as we felt like investors were a bit too complacent on the uncertainty surrounding the election outcome, unlikely passage of a fiscal stimulus before the election and second wave of Covid-19. Fast forward to today and the S&P…...
As we head into Election Day 2020, the market is seemingly stuck with determining the path it will be taking on the way to its ultimate destination. The destination is higher prices by way of improved corporate earnings through the delivery of a scientifically proven, effective vaccine that can be rolled out over the course…
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review the SOTM video. In this week’s edition we dedicate time to the election cycle, historic data related to market performance. Presently, the market is still undergoing a consolidation period whereby support has been held, but demands follow-through and resolution of some of…...
