It’s well-known that I like to take things a month at a time, and last session we looked at our recap of November. Now, I want to look forward to my December 2020 stock market predictions.
The wild ride of 2020 continues as we continue to see a spike in COVID-19 cases while the pandemic begins to surge again.
I know you’re tired of it. I’m tired of it. I can tell you that the stock market is tired of it.
People were ready for some stability with news of a Pfizer Inc. (NYSE: PFE) vaccine and the election mostly over. Despite that, we’re still seeing a market that has come to a crossroad.
Will a vaccine arrive and begin to return things to normal… or will there be an even stronger surge, leading to the continued rise of stay-at-home tech stocks? COVID-19, like a James Bond villain about to blow up the world, has its finger on the button and we’re waiting to see how it ends.
We saw a historic November, guys. The Nasdaq was at all-time highs that are not at all typical. Is that a trend we will see continue in December?
It’s hard to say for certain what the next month will look like, especially when talking about the stock market.
I know how easy it is for traders to get used to seeing a stock market like this one. This is setting a new baseline for a lot of people. My December 2020 stock market prediction is that a market like this may not be sustainable in the long-term.
I believe that we’ve seen a long, stretched-out bullish market. To me, that means the party has gone on too long — and that’s a big red flag.
Today I sit down with WealthPress Head Trader Roger Scott to discuss our thoughts moving forward. Sit in with us as we talk about our December 2020 stock market predictions, specific industries to watch and how to play the game this month.