Up and up we go.
It is actually wonderful that the Nasdaq has really doubled off the March lows and it solely fell 30% in March so we’re up nearly 50% from our pre-pandemic ranges and was Trump actually that unhealthy for the economic system that his insurance policies have been holding the market again from a 50% acquire on the time?
A lot as I disliked Trump and his insurance policies, no, they weren’t chargeable for our “poor” market efficiency. The Nasdaq was round 5,000 when he took workplace in 2017 – again to the place it had peaked out in early 2000 – and Trump’s tax cuts and low charges and weak Greenback rammed us up 140% increased by the point he left workplace to only underneath 12,000. We have been again to 7,000 final March on virus fears and now it seems the virus should have been nice for the economic system as we’re as much as 14,000 – with Biden including 2,000 extra factors (16.66%) in simply two months of presidenting.
Will we ever see a high to this market or will it simply hold going and going? CNBC had Tom Lee on yesterday and he predicts a “face-ripper rally” in April – as if 8% monthly is a sluggish begin to the 12 months. “I believe there’s a degree of shock coming in April as a result of we already had a powerful end starting Wednesday of final week. It’s actually three days of robust rallies and historical past exhibits that is actually constructing as much as be what may very well be a, probably, S&P 4,200 earlier than the tip of the month,” Lee mentioned.
Effectively, 4,200 is barely up 5% for the month, so it is really slowing and never ripping any faces that I can see nevertheless it makes a superb headline and sound-bytes are what matter, proper? In the meantime, the complete inventory market rally is nothing in comparison with the explosion in Crypto