Transcript.
Well, hello, everybody, welcome to Friday, it was a really amazing week altogether, one of the best four days that I’ve ever seen, that’s for sure, it ended with a slight downturn for the S&P 500, -.03%. But that’s actually important because it didn’t fall back down, it maintained those levels. And it’s even building a little bit of a base there right where it is now, which is important. And then I think it’s going to break out of this sideways range that we’ve been in September, October, and then we’ll really have a whole bunch of support underneath us and things could go quite well.
You know, one of the things it’s important to keep in mind at all times, you know, we’re always facing different things, you know, virus counts going up, or contested elections, or who’s going to be in the Senate and all these issues. But you have to pay attention to the major direction of the market. And so if you’re on a big ship, and it’s moving in one particular direction, you might be able to walk down that ship for a while in the opposite direction, and essentially go sideways for a little bit of time. But that direction is still there. Now it can change directions, sometimes it can happen quickly, like what we saw with the pandemic piece, but most of the times it moves kind of slowly, right now that direction is up. And so you have to assume that it’s going to go up even when it’s going sideways or down like last week, it was down. So but the major move was up. And so that’s what ends up coming through that ship is still pushing us down the road. And so we might have, you know, a contested situation here for the election. Market doesn’t seem to be bothered by that as much as it was.
We might have a you know, really close situation in the Senate. And again, I think, you know, the Democrats take over the Senate, taxes could go up, but stimulus would go up. I think those offset the Republicans stay in control the Senate, I think, you know, we still don’t see taxes going up, which would be good for the market. And I still believe we see some kind of a stimulus and some clean energy money, and those types of things. So I think that things are good. And I think that they’ll continue to go good, as long as this market continues in this particular upward direction, you know, we’re above the 50-day moving average, it’s moving up. Now, the 200-day moving average, the moving up are really far above that.
So those are signs that this ship is going up, we just have to keep that in mind. And keep that going in our right direction. We watch for those signs for where that’s going to change. And we’re ready. When we got concepts, we got ideas, we got portfolios, we got moves that we can make, if it does, if that ship does change direction, but it’s the key to investing is to identify the difference between the ship turning direction, or just kind of that counter move, you know, walking backwards down the ship, so to speak. So really important right now to keep in mind that throughout all of this, that the shift is going up, and that hasn’t changed for quite some time now. So let’s see what happens next week. See if this continues through, do we break out? You know, I think there’s a lot of people trying to jump in right now. So we’ll see how that plays out also. So really looking forward to seeing what happens on Monday. Thank you very much.