I can be a little dense sometimes. This sudden bump in market internals I
mentioned earlier this week, along with the current rally is due to Trump’s
recovery from coronavirus. He admitted yesterday that he was “very sick”
agreeing with his Chief of Staff’s earlier comments, that he had previously denied.
Yesterday, he was also cleared by his physician to return to work. Apparently,
he has been “cured” in record time by Regeneron’s experimental, antibody-drug, REGN-COV2.
It is not yet approved for treatment. More here...
https://www.theguardian.com/world/2020/oct/09/regeneron-drug-demand-surges-trump-claims-cures-covid
What this means for investors is more upside until we see
a number of topping signs, to include Bollinger Bands, RSI, and other overbought
indications. The TRR will carry markets higher – maybe in the 5-10% range. It’s
likely that we’ll take out the prior highs. It’s still a tradable event (as I
suggested Wednesday) with a top coming sooner rather than later.
