" on Wednesday. "However, the market is held back and the rally is a bit tempered because of the rising number of Covid cases."trades between 3,500 to 3,650 — which is just five points below its all-time high hit on Nov. 9
"If the number of Covid cases actually stays steady or doesn't rise and put tremendous pressure on the first responders, then we break to the upside," said Nicholson, who manages $7.2B in assets."If the first responders are overwhelmed, however, then you are going to have to worry about further shutdowns or lockdowns," he added. "If that occurs, then I think we we could go back to around 3,500 on the S&P in the short-term.".
"What's really got people jazzed up about next year is the fact that the year-over-year earnings growth is going to be 38% based on expectations," Nicholson said.
TradingNation I've never heard CNBC try to support the markets so much before. The market is at an all time high coming off a 13 year bull market, 4 years of over $8 trillion in repatriation buybacks & $3 trillion worth of pandemic stimulus & everyone is declaring bankruptcy. GET OUT NOW!!!
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