July 6, 2020, 7:57 pm EDT
Another Powerful Push
Stock markets made another powerful push with DJIA +460 points and about 1.8-2.2% advances for all major indexes with Nasdaq a new record high again. Consumer discretionary got +3.2% from leading stocks like HOG, CMG +7% and AMZN +6%.
Government sponsored loans to small business and potentially more money like PPP (Paycheck Protection Program, CARES act, $600/week unemployment check and one-time check, are major sources of power to keep boosting stock markets to new high without hesitation.
Communication, financial, and technology are also among quick movers. Overall, it looks very bullish without looking into record high COVID-19 cases.
Volume is still on the light side. Adding positions gradually and closing along the uptrend should be appropriate for this market conditions.