I have trouble seeing how this trend can continue just on Fed dollars alone.
They say the markets can stay irrational for longer than you can remain solvent, but how much can the Fed avoid that same fact? There's only so much manipulation that can be done, and we simply haven't recovered. The Fed has been "helpful" and many businesses are hanging on by a string, but two-thirds of restaurants in NYC are likely to close by January. Using that as a litmus, a second wave could put a real hurtin on us.
I would really like other opinions on this, supporting or otherwise, so please post anything you may be thinking about this.
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Reph
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Keep in mind, QQQ represents the tech sector not main street. So while main street and small business are taking a beating the large cap tech sector is mainly benefiting from COVID. I think this is just profit-taking pullback and it's heading higher again.
BosTrader1
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IMO, people have accepted living with Covid so I don't see a second wave paralyzing the economy nor a market collapse due to it. Although the restaurant and hospitality industries are suffering and will continue to suffer, these are "lower" paying jobs. In terms of economic impact, the driver of the economy is the middle class, and they working in tech, pharma, healthcare, etc. These industries are thriving. I also believe there will not be a housing crash. Banks have been extending most people's mortgages. If they don't continue, they will repeat 2009. There's a 99% chance that Trump will be reelected, and he will do anything to prevent a collapse, along with the Fed. Lastly, there's just as much money on the sidelines which is dying to swoop back so any correction would be short lived. That being said, it will be a very bumpy ride for the next 2 years. GL
PS I can see tech companies like AAPL and TSLA diving another 25% since they are overcrowded.
Incogniteaux
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@BoSoxFan123, I disagree with pretty much everything you just said, but we'll see what comes about!