Stock Market 3636 Friday – S&P 500 Re-Checks Election Highs on...

3636 Friday – S&P 500 Re-Checks Election Highs on Black Friday

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Right here we go once more.  

The S&P 500 is at 3,636 within the Futures (/ES) and, after we examined 3,640 earlier this month, we have been harshly rejected with a 120-point (3.3%) drop however we shortly recovered – after which we shortly dropped once more – however now we have shortly recovered, so let’s all benefit from the pundits telling us how this rally is sustainable (this time).

Apple (AAPL) is down from $137 to $116 since early September and that is down 15% so it is really very spectacular that the Dow, S&P and Nasdaq have all held up nicely whereas their chief declined.  It means persons are placing cash into comparatively “cut price” shares and that may put an underlying flooring in the marketplace we are able to construct off.

Nonetheless, we went so much deeper into CASH!!! in our Member Portfolios as a result of it merely is not definitely worth the threat since we nonetheless do not know if Trump will willingly depart the White Home and we do not know if there will likely be stimulus and we do not know if the virus will cease peaking (we’re averaging nearly 150,000 per day now) and we do not know if Black Friday will likely be a bust – too many unknowns to threat an overvalued market….

The US now has 90,000 individuals actively within the hospital with Covid-19 and 110,000 new circumstances have been reported yesterday so there is no finish in web site as we method the bounds of our medical capability to deal with individuals.  Thanksgiving itself might turn out to be a super-spreader occasion as 50M Individuals (20% of the inhabitants) ignored the CDC and traveled for the vacations and 1,200 persons are now not grateful because the loss of life toll climbs to 263,000 since March.

As you may see, we have had solely 8M outcomes out of 12.5M infections within the US as extra persons are actively contaminated right now than another time within the outbreak – they usually all simply obtained collectively for Thanksgiving.  This illness is 3% deadly people!  Sometimes, it takes 2-3 weeks to start out seeing case counts rise after spreader occasions and by then we’ll all be getting collectively for Christmas – have a merry one!


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