We are entering a traditionally bullish seasonal period in the stock market, and it is likely that the tradition of a bullish December into January period will play out right on schedule, states Joe Duarte of In the Money Options.
The stock market continues to move steadily higher, albeit in a volatile rising channel, as the bullish combination of a major wall of worry and easy money until the cows come home from the Federal Reserve continue to move money toward equities, states Joe Duarte of In the Money Options.
Despite reports of rising COVID-19 infections, global lockdowns, and an evolving US election situation, as I will detail below, the stock market broke out a new high on the S&P 500, which was confirmed by excellent breadth numbers, states Joe Duarte of In the Money Options.
The stock market is firing on all cylinders as traders bet on more Federal Reserve liquidity and the potential for Congressional gridlock. Yet, with the potential for more election drama over the next few days to weeks, just about anything is possible, states Joe Duarte on In the Money Options.
The speed and magnitude of the current selloff has led to the development of an indicator setup, which as I describe below in detail, suggests that the market is ripe for a reversal, states Joe Duarte on In the Money Options.
The tension in the stock market is palpable but with shifting polls, the odds of a stimulus deal being done possibly rising, an easy Fed “forever” and tightening volatility indicators, the odds favoring a big move in the stock market are rising, states Joe Duarte on In the Money Options.
With the Federal Reserve steadily pushing money into the banking system, the only thing left to happen in order for a significant move higher, pre- or post-election is some kind of stimulus package deal, states Joe Duarte on In the Money Options.
As I noted in my 9/27/2020 column, the “V” bottom that I thought was possible has materialized. Although the US stock market is still volatile with large swings influenced by daily news reports and politically related items, the uptrend is back until proven otherwise, states Joe Duarte on In the Money Options.
In what is becoming an increasingly murky world, especially after President Trump’s Covid-19 diagnosis and ensuing developments, one thing is clear, the market is dividing its time in worries, explains Joe Duarte of In the Money Options.
In a market controlled by algorithmic traders (algos) any bottom can be a V bottom or not, states Joe Duarte of In the Money Options.
The stock market’s uptrend seems to be hanging on by a thread, yet the Federal Reserve has made it clear that it will continue to pump liquidity into the banking system, states Joe Duarte of In the Money Options.
Investors should be concerned in this market but should not rule out more upside action in the not-too-distant future. That’s because despite the precarious nature of the moment the bulls continue to buy the dips at critical support levels, which means that the entire story for this market may not be completely written, states Joe Duarte.
Joe Duarte points out the latest Covid-related trade as a move away from public transportation due to Covid-19 is still considered valid.
Shares of used car sales giant CarMax (KMX) held up during the recent wave of selling, notes Joe Duarte, editor of In the Money Options — and a participant in The Interactive MoneyShow Virtual Expo on Sept. 15-16.
Stock correction is real, but upside reversal could follow, cautions Joe Duarte.
Joe Duarte provides a pair of contrarian stock picks.
Fed stimulus remains dominant factor for stocks, so stick with trend, writes Joe Duarte.
Housing and niche retail are sectors that can continue to outperform during the Coronavirus pandemic, notes Joe Duarte.
Equities are near their all-time highs but appears toppy and are at risk of a correction, cautions Joe Duarte.
Joe Duarte points out a potential breakout in Big Pharma giant Merck.