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“An end is only a beginning in disguise.” – Craig D. Lounsbrough
It’s still early, but based on early indications in the market, 2021 is picking up right where 2020 left off. Futures are indicated higher, COVID numbers remain right at or near their highest levels of the pandemic, and President Trump is still dominating the headlines. Besides the year on the calendar, one of the few differences between now and 2020 is that bitcoin is trading down sharply from its highs over the weekend. Despite the 8% decline, though, it is still trading higher than where it closed out 2020.
Be sure to check out today’s Morning Lineup for updates on the latest market news and events, a recap of the latest PMI Manufacturing reports for the month of December, an update on the latest national and international COVID trends, and much more.
Heading into the first trading day of the year, the majority of sectors remain at overbought levels with just four that aren’t overbought (Utilities, Real Estate, Industrials, and Energy). Of those four sectors, two (Utilities and Industrials) now actually have “Good’ timing scores while every other sector enters 2021 at neutral levels.