The S&P 500 (SPY - Free Report) just surged past the 2,950 resistance-level after testing it on 3 separate occasions. The recent rally was catalyzed by economic optimism as well as hopes of more monetary and fiscal support. Now the 2,950 resistance has pivoted to a support level as the S&P 500 looks to hit 3,000, a level we have not seen since the first week of March.
I think the markets may be getting too optimistic too fast. Unemployment is sitting at depression levels and is only anticipated to get worse over the next few months.
Tech giants like Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) , and Facebook have been provided with a COVID tailwind and are driving the equity markets higher. Society is relying on technology for virtually everything amid this pandemic, but is that enough to keep the entire stock market afloat?
Unemployment is expected to be north of 20% by the summer, and it will take years to reach pre-COVID rates. It could be years before earnings reach 2019 levels again. I would be cautious in your equity purchases as stocks valuations get stretched on over-optimism.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The S&P 500 (SPY - Free Report) just surged past the 2,950 resistance-level after testing it on 3 separate occasions. The recent rally was catalyzed by economic optimism as well as hopes of more monetary and fiscal support. Now the 2,950 resistance has pivoted to a support level as the S&P 500 looks to hit 3,000, a level we have not seen since the first week of March.
I think the markets may be getting too optimistic too fast. Unemployment is sitting at depression levels and is only anticipated to get worse over the next few months.
Tech giants like Amazon (AMZN - Free Report) , Microsoft (MSFT - Free Report) , and Facebook have been provided with a COVID tailwind and are driving the equity markets higher. Society is relying on technology for virtually everything amid this pandemic, but is that enough to keep the entire stock market afloat?
Unemployment is expected to be north of 20% by the summer, and it will take years to reach pre-COVID rates. It could be years before earnings reach 2019 levels again. I would be cautious in your equity purchases as stocks valuations get stretched on over-optimism.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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