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Did The Market Correctly Price In The End Of The Pandemic?
After what appeared to be a second COVID wave in July, new case counts have dropped substantially this month. Despite more people getting tested (almost 25% of US), the daily case numbers remain healthy, and the more critical death rate continues to fall.
Today the market surpasses crucial market levels this morning. The S&P 500 surged through 3,400 which represented a critical resistance level. The Nasdaq 100 (QQQ - Free Report) passed a key Fibonacci retracement level (11,600) with the index looking like it's headed to the moon.
Now the S&P 500 (SPY - Free Report) is eyeing 3,600, which many analysts have set as their new year-end price target.
There appears to be an endless appetite for public equities as low-interest-rates push investors towards riskier assets. Stocks rally further today as the FDA approves antibody-rich blood from recovered COVID patients for severe cases.
Volatility potential remains as stock valuations stretch and the election looms.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>