Santa Claus didn’t giving us nice things this year due to coronavirus restrictions on gathering with family and friends, but what a rally! To think back in March many of us thought we were on a precipice of a global coronavirus induced market collapse. Instead we’ve seen the NASDAQ rocket over 40% year to date (not counting from the low for the year) and the SP500 and DJI up over 14% and nearly 6% respectively. This is the ultimate silver lining to what has been a bad year.
My indicators suggest the up trend should continue for the next few weeks. After New Years volume should tick up as people return from the holidays. There are many factors that will affect market direction after New Years. The new Biden administration ‘s policy will start to be announced. Small business in America is in a state of crisis, as are renters and landlords. In spite of this, the markets still retain their longterm upwards bias. So as of now I am betting 2021 will also be an up year.
Quant For The Masses 