Investors are very focused on the news flow and awaiting a catalyst to confirm the next directional move in the stock market. Will it be the stimulus bill, the Supreme Court nomination, or the election? Or something else? Or could one of those events turn into an already priced in, “sell the news” headline.
In today’s video, we tune out all that noise and simply focus in on the price action and technical indicators. We look across the major assets, indices, sectors and stocks for trending issues. Here’s a recap of today’s video:
Despite all the “Talk”, stocks remain listless in the near-term.
Investor sentiment is mixed and largely unchanged week over week.
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) are nearing oversold positions.
There has been a personality change for value stocks with a tilt toward momentum.
Stock Market Today Video – October 21, 2020
Twitter: @DanRusso_CMT
Author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
