The major indices have started the second half of 2020 the same way it finished the first half of 2020…higher. So, what can we expect moving forward?
Last week, we talked about the VIX and the trading range that the S&P 500 has been it.
Well, as the week ended, the VIX was below 30 and the S&P 500 closed at the top end of its trading range, possibly setting up for a retest of those briefly hit early June highs. But if we do get a retest of those early June highs it’s important not to get complacent or market chase just because stocks are moving higher.
So, for the week ahead let us focus on diversification. Since the March lows, diversification has really worked – whether it’s been bonds, gold, or non-U.S. stocks – all phases of a portfolio have contributed at one point or another during this advance. Let’s remain disciplined and strategic especially given the uncertainty of reopenings, the uncertain path of Covid cases, and the uncertain employment picture that still remains.
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