Transcript
Hello, everyone, Welcome to Tuesday, S&P 500 was down .65%. Today, overall stocks were down and bonds were up. And so that’s kind of a typical day. I think the big story today has a lot to do with the package that the Congress is trying to put out for a stimulus program to help the economy and help the unemployed and whatnot. And so that’s a really big area right now, the virus, of course, is the big story altogether. But the stock market probably wouldn’t be where it was without the Cares Act that came out in March, and the help from the Fed and the Treasury.
And so what’s happening in Congress right now is very important to the stock market. And so we’ve got this situation, if you’re calling March, they got the cares Act passed very, very quickly. And now we’re starting to see a much slower process. I don’t think there’s as much pain right now. And as much fear that would really motivate this to happen quickly. So I suspect that this is going to be dragged out a bit. And because of that, the market will have a bit more volatility. And I find it hard to imagine that the markets going to break out on the upside through this resistance that sitting above without this package being finished.
And so I do think the package will be finished. But because there’s a much lower fear right now, I think it’ll be a bit more contentious in terms of getting there. And so we’ll have to wait and see what happens with that. It’s an important component of the stock market at this point in time as to what type of bailout that that comes through, and what type of stimulus and where it ends up going and those types of things. So, overall, I think things are doing fine. I see, you know, my charts and the things that I’m looking at things seem to be holding in there quite well. I wouldn’t be surprised to see us go sideways, continue to go sideways, because of what’s happening with the stimulus. So that’s what I have for today. Really, thank you for listening to the video. Look forward to talking to you tomorrow. Thank you.