What a Month! | Weekly Market Minute
Our bodies recovering from the Thanksgiving weekend food coma tells us that the end of November is here. Stick around and let's recap what has been an amazing month for stocks and what to watch out for.
November is shaping up to be one of the highest returning months on record, with many indices up over 10%, including non-U.S. investments. With consensus being bullish on stocks for 2021, as vaccines put COVID-19 behind us, investors seem to be looking past the shorter-term COVID in the winter case counts and focusing on the second quarter of 2021 and beyond, trying to front-run the positive 2021 forecasts.
But, for the week ahead, we need to make note of what may be extreme bullishness in the market. The Fear & Greed Index found on money.cnn.com has a reading of 91, which translates to extreme greed. The CBOE Equity Put/Call Ratio is at a .40, one of the lowest readings we have seen, which is an extreme reading of bullishness as investors forego downside protection. So, the question becomes are buyers still there, or are we set for a pullback? Time will tell.
For a more detailed market report head on over to our Insights page. Where there are some of the key economic data points to be released this week. Also, subscribe to our YouTube channel and check out some of our other social media pages.
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