Transcript
Well, hello everybody, welcome to Monday, the S&P 500 was up almost .4% today, but it was a pretty wild ride. Let me share my screen with you. And I can show you a little bit more detail. Right. So this is a chart, we haven’t really looked at that often. But what this shows is the VOO, which is the Vanguard’s version of the S&P 500. And then this every little bar on here is one minute. So this is, you know, basically a two day chart, you can see, you know, this gray area means after hours, so this thing’s still trading. But here today, right, we go up very nice, things are looking great. And all of a sudden, straight down. So they announced that the stimulus bill was going to be four to six weeks, I think the expectation was more for two weeks. So it adjusted.
Honestly, I don’t know that there’s that much difference between two weeks and four to six weeks, to the overall, you know, economy, definitely different for those people that need the money. But and that’s I think that’s why we saw this kind of recover. And a really, really great finish here, actually, which should bode well for tomorrow. As far as that goes. If we take a look, just you know, kind of another piece of this that I think is really important. This is the same security VOO, the S&P 500 through Vanguard. And here’s by the day for the last year. If I go in a little bit closer here, we can see, you know, today, this little tail is actually a really nice thing, it means that it pushed back up off of that low and closed up nicely. And so what happens here, if you look, this is the volume profile shows how many shares traded at each price, and look at where this thing went to it right here. So in terms of where the price is, right now, this is our closest level of high support, then so basically, what happens is that people that bought here, you know, when it went up, they came back in, in theory and purchased when it dropped, right. And but we have lots of other support areas under here, here. Here’s a huge one. And so this is important can be really important.
I do think it’s one of the more powerful pieces of what we’ve got right now is a great support level as far as that goes. So altogether, I think things are fine. You know, our portfolios didn’t do as well today, just because you know, we had clean energy kind of take a break. Apple did great. They’re supposed to announce earnings here coming up some expectations that it might be good earning. So we’ll see what happens. But oh, no problems that I can see with a little bit of today’s move. Just kind of interesting to see how much how much importance the stimulus has to the market right now. I think we’ll probably be talking about that some more over time here. So anyway, that’s what’s going on today. I look forward to talking to you tomorrow. Thank you very much.