Stocks continue to be resilient even with Covid-19 cases trending higher. Can this continue?
It was another positive week for the S&P 500 even as there are signs that community spread is once again taking hold in certain states. It seems that the amount of stimulus pumped into the economy continues to outweigh the daily Covid-19 case count when it comes to financial markets.
So, for the week ahead, let us continue to watch the VIX. Last week, we mentioned that it broke above 30 and that we would like to see it move back below this level. If it can, then maybe the resilient stock market will continue to trend higher. But, if the VIX continues to move higher then be prepared for some potential volatility.
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