TWELVE o'clock TUESDAY – Stock Market Report
by Robert Holman | The DefensiveAdvisor.com | September 29, 2020
NEUTRAL … Rating of 5 (0 - 4 is bearish, 5 is neutral, 6 - 10 is bullish). If this was Tuesday evening around midnight, I might have moved off neutral, maybe even significantly, but I need to see the debate results and Wednesday’s market action before I can make a call. It’s that important. I’m waiting to commit more capital until I can interpret what was said and what’s coming.
ELECTIONS, VIRUS and STIMULUS – The Presidential Election is now center stage, the stimulus package is stalled, and Phase III corona virus vaccine test results will be forthcoming soon. Positive results on either of these three factors could drive the market substantially upward.
MARKET – If the market has bottomed (see NEUTRAL above), it was a -8.0% price decline for the DJIA and a -9.6% price decline for the S&P 500. Pretty typical for an intra-year correction.
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Opinions voiced in this post are for general information only and are not intended to provide specific advice or recommendations for any individual, without complete knowledge of that individual’s total financial profile. No strategy assures success or protects against loss. Past performance does not guarantee future results.