If someone would have asked me a few months ago if the market was going to be in rallying mode and set to challenge ATH during the peak of a pandemic, I would have said no way. But this is exactly what is happening now. The virus is going as strong as ever and there are parts in the country facing a healthcare collapse in the next few weeks. In addition, some states are rolling back the re-opening of the economy but the market behaves like it is 2019!! Maybe I am missing something but perhaps this is the ultimate sucker's rally as I don't see our economy generating the profits necessary to maintain a rising stock market. The only justification I can see is the fact that interest rates are close to zero and investors have nowhere to put their money but stocks and real estate. Perhaps, prices will reach new all-time highs soon and then selloff just like they did in March where amateur investors didn't have time to react. Crazy times we are living in!
Short Term Trendd = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bearish
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