The stock market is being driven by election headlines, with President Trump catching Covid 19 and a contentious election, investors are worried about what can happen if there isn’t a definitive winner on November 4th. Technically, the broad indices are setting up for a bullish run and as long as we break above the 3400 level on the S&P 500, we should move towards all time highs.
We are keeping an eye out for a potential second wave of Covid 19, as Europe may be foreshadowing what could happen here in the winter months. It doesn’t take a genius to understand that when colder temperatures strike, people will move inside and in closer proximity to each other leading to more Covid spread. Hopefully, the vaccine producers can get a drug approved by the end of the year and we can put this pandemic behind us.
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