Stocks rallied to their best weekly gain in more than four decades on Thursday after the Federal Reserve unexpectedly unleashed a new multi-trillion-dollar stimulus plan to support businesses during the coronavirus pandemic.
The S&P 500’s 1.5% rise Thursday brought its weekly gains to 12.1%, or its best one-week gain since 1974, as the Financials and Real Estate sectors outperformed. U.S. equity markets will be closed Friday in observance of Good Friday.
The Nasdaq posted a 10.6% weekly gain for its best since 2008. The Dow’s 2,666.84-point gain since last Friday marked its best weekly rise in point terms ever, and its 12.7% weekly advance was its best on a percentage basis in two weeks.
Stocks rallied to their best weekly gain in more than four decades on Thursday after the Federal Reserve unexpectedly unleashed a new multi-trillion-dollar stimulus plan to support businesses during the coronavirus pandemic.
ReplyDeleteThe S&P 500’s 1.5% rise Thursday brought its weekly gains to 12.1%, or its best one-week gain since 1974, as the Financials and Real Estate sectors outperformed. U.S. equity markets will be closed Friday in observance of Good Friday.
The Nasdaq posted a 10.6% weekly gain for its best since 2008. The Dow’s 2,666.84-point gain since last Friday marked its best weekly rise in point terms ever, and its 12.7% weekly advance was its best on a percentage basis in two weeks.
Intermediate bottom, if not "the" bottom, is in.
ReplyDeletePercentage of s&p500 stocks above their 200 day MA's has gone back above 15%.
Weekly advance/ decline line has gone above 21- week exponential MA. And there's positive divergence in its RSI, CCI, and fast stochastics.
The only thing is there's no +ve divergence yet for the main indices. This will require another drop (But not a full- on rout) in the next few weeks.
Frankly ... All the above speak is a fool's errand to try n catch the "bottom".
We are in a global recession. And there's no better way to invest or make money in stocks than to buy during bad recessions.
Just buy solid businesses over the next 6-12 months. If dunno what to buy then just buy index funds or etfs like STI & Reit etf.