Message from Jon
Here we go...
With the Democratic National Convention behind us, now brace for the Republican National Convention.1,2 Once both parties have announced their agendas and strategy, we can then begin to examine what Wall Street deems important and less important. There is no doubt that few of us are really looking forward to this election, but it will be upon us nonetheless...and soon enough for sure.
IF we get the second wave like many are predicting, it may land on our doorstep the same time the election does and could in fact cause some interesting outcomes from a view of delays and lawsuits, in our opinion. Keep in mind, predicting the future is a fool's errand for sure, but having a plan A and plan B is prudent.
On the technical front
On the indicator front, we are seeing where Domestic Stocks are gaining ground against bonds and cash. It doesn't take a rocket scientist to see that this market has very little in common with reality at the present but still it pushes onward.
While COVID-19 is still rising in some areas, we see the government taking aggressive stands on the vaccine front as well.3 You know, it still baffles me that when threatened, we can get a lot done in the name of victory, but it usually takes a severe and significant threat to wake us up and unify our resources.
Till we speak again, stay safe and mask up,
Stocks Reach New Highs
WEEKLY UPDATE - AUGUST 27, 2020