Month: December 2020

The markets had a soft, flat week coming off options expiration. The Nasdaq closed down slightly, the $SPX down a ½%. Globally, most markets pulled back. Most commodities pulled back this week as well. Currencies were flat even though a UK-Eurozone trade deal got done. All in all, a week that consolidated all the moves up.

• By Greg Schnell, CMT, MFTA
• December 29, 2020

The Pfizer vaccine rollout continues. The Moderna vaccine got approved. More vaccines are in the approval pipeline but look to be later in January. JNJ. Astrazeneca. With my strength indicators weakening and the majority of good news out about the vaccines, it seems like the market wants to pause here. Until you look at Tesla stock. The roaring 2000’s 2020’s.

• By Greg Schnell, CMT, MFTA
• December 21, 2020

The trucks are now rolling out Pfizers vaccine this weekend after the FDA approved it late on Friday. That’s huge! So vaccine injections start Monday. We also have the Fed meeting Tuesday and Wednesday. Moderna’s vaccine is up for approval on Thursday December 17. But that’s not all for this week. To round out the week, we have options expiration (OE) Friday. The last 4 years, this OE has been a positive swing and the market runs into the new year. It all adds up to lots of reasons for volatility. We still have the possibility of a stimulus package.

• By Greg Schnell, CMT, MFTA
• December 14, 2020

The pandemic continues to be front page news with the potential for vaccinations to start this week. The FDA is to meet to decide the emergency use application for Pfizer’s vaccine on Dec. 10. The Operation Warp Speed group said they will be ready to have the vaccine for front line workers within 1-2 days after, potentially meaning December 12-15 to start vaccinations if the FDA decides quickly. A giant risk is if the FDA does not approve the vaccine. All the pre-selling by the FDA, both government parties, the Pfizer and BioNTech companies, suggest smooth sailing. This could be a sniper bullet that comes out of nowhere but it would be one hell of a turn, considering the UK has approved it. There is immense pressure to approve. Let’s hope this goes well, because a lot of lives depend on an early vaccine.

• By Greg Schnell, CMT, MFTA
• December 7, 2020