Markets are continuing higher it appears. Small losses yesterday as earning season kicks off. Many are calling for earnings blow-outs this quarter but some concerns remain.
Michigan is seeing a huge surge of virus cases and the CDC recommended shutting down… This despite the vaccines. On another front, there’s a preliminary report that indicates the Pfizer vaccine is not effective against the South African variant. If people refuse the vaccine in large numbers (as we are seeing) new variants will continue to mutate and likely evade existing vaccines. We could be playing whack-a-mole for a long time to come…
Bitcoin has surged to all-tim highs above $62,000 this morning. I’m still holding, watch the 50 day moving average for support.
Market remain bullish and unconcerned about COVID. The VIX is continuing to fall. I’m bullish and risk on for the perfect setup.