Broker Check
Market Update 11.24.2020

Market Update 11.24.2020

November 24, 2020

Today is Tuesday November 24 and it is 3:30pm

DOW HITS 30,000

If you have been reading my market updates, having gotten through October, you have seen that I have continued to remain bullish on the overall market prospects despite all of the negative news swirling around in the marketplace. This bullish stance is consistent with traditional seasonal trends. Today’s market action further confirms my bullish conviction. The Nasdaq continues to deliver the highest rates of return year to date but the fact that the Dow and the S&P 500 are playing catch up bodes well for the overall market prospects. I consider this the Covid-19 Vaccine rally where pandemic damaged stocks are playing catch up to pandemic leading stocks.

In addition, the fact that the Transportation Index is simultaneously establishing new highs, further forecasts that the underlying economy could be in recovery mode. 

Remember that the Dow and the Transports Index are leading economic indicators so the message is that the economy is possibly on the mend. From a trend analysis standpoint, The Dow, S&P 500, Nasdaq and Russell 2000 all reside above their short, intermediate and long term trend lines. Additional confirmation of my bullish conviction.

I also wanted to mention, we have entered into a partnership arrangement with SoFi to offer Mortgages, Mortgage Refinancing, Home Equity Lines of Credit and Student Loans. We will be sending out additional specific information on this new development shortly. I might add that their rates are particularly attractive right now. It is to this end that we continue to move toward our long term goal of providing the most Comprehensive and Service oriented Fiduciary Based Financial Planning in the marketplace.

Lastly, thank you again for all of your referrals. Should you have any questions regarding anything financial, please don’t hesitate to call.

Disclosure: The opinions expressed here are based off the information present at the time of the piece and are subject to change. SoFi and Triad Advisors are not affiliated.