November 24, 2020

To gain an edge, this is what you need to know today.

Yellen Rally Extends

Please click here for a chart of S&P 500 ETF (SPY) which represents stock market benchmark index (SPX).

Note the following:

• In yesterday’s Afternoon Capsule, we shared with you that the market was rallying on the Yellen appointment.
• As the chart shows, this morning the stock market continues to rally on Yellen appointment.
• The market loves Yellen because she is a good communicator, is well known, knows how the Fed works and most importantly because she will push more borrowing and more stimulus.
• As the chart shows, the market is now above the magnet line but still below the vaccine high line.