JoseDN

Weekly Review: Clueless Territory (Read for Fundamentals)

Long
CME_MINI:ES1!   S&P 500 E-mini Futures
Will have a week similar to the last one, irregular.

We had a decent run in the last couple weeks, and now the market is starting to feel a bit clueless, why?
- American elections are approaching
- Disappointing news about vaccines development
- Bad Brexit negotiations
- Worse control of the virus than expected

However, the underlying sentiment of the market is bullish .
- 2021 & 2022 will be years of +20% earnings growth and this will guide the markets

This week:
- Technology earnings results (which will be decent and sustain the markets)
- Stimulus package talks will advance

Markets will move laterally keeping an eye on both earnings and stimulus package while waiting for the outcome of the elections, if anything they will end slightly up this week.

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