The US is in a crossroad. The FED has repeatedly insisted that fiscal stimulus is necessary for recovery but politics has taken center-stage. The Fed's balance sheet is now at a record high but investors aren't buying yet. Pelosi and Kudlow are still moving slowly to agreeing on a deal and that is having a negative effect of the equity markets. The US election is also having an impact as no one knows who might win this time round. To make matters worse, we can't trust the polls, courtesy of 2016.
In addition to this, the US is in the third wave of covid19 cases.
Therefore, from now to next week, I'll be only looking for selling opportunities. The S&P500 is currently holding on the February 2020 pivot High and it is unlikely it's going to bounce back.
In addition to this, the US is in the third wave of covid19 cases.
Therefore, from now to next week, I'll be only looking for selling opportunities. The S&P500 is currently holding on the February 2020 pivot High and it is unlikely it's going to bounce back.
