Technical Analysis

Nasdaq snaps into positive territory

Nasdaq now higher on the day

The Nasdaq fell 2% at one point today but is now up 0.1% in another impressive turnaround. Money continues to flood into the market despite the Hong Kong situation as optimism about the economy reopening continues to build.

The market appears to have drawn the conclusion that the virus just isn’t that deadly for relatively healthy people and with rates low and government spending exploding, that the upside is attractive. I mean, what else are you going to do? Buy 10-year Treasuries at 0.67%?

See here for global coronavirus case data

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