December 16, 2020, 12:02 pm EST
Technology Leads
Technology comes to the leadership for a mixed market today. MSFT, PYPL, NOW, EBAY, TWTR, NTAP, WDAY
In addition, consumer discretionary shows a strong buying pattern from restaurant Chipotle (CMG) and discount retailer Dollar Tree (DLTR)
Congress is working on another 900 billion stimulus plan that could be approved soon that is the driving force behind the rally for these retailers, restaurants, hotels, gambling, etc.
But overall the economy should be weak and vulnerable due to COVID-19 shutdown. So, it is questionable how far stock markets can go based on money printing policy.
Technically, stock markets are still in strong rally mode or bullish bias. We can stick with these bulls cautiously until condition changes.
