Market Makes History Headed Into Holiday

2020-11-24

History made its mark again today with major market indexes soaring to record new highs.

The Dow closed at its highest ever at 30,046.24 points to rise 1.54% (adding 454.97 points on the day). The Nasdaq pushed higher to 12,040.92 points for a 1.35% boost while the S&P 500 rallied to its new high of 3,636.77, rising 1.65%.

The record rally was credited to news of a Covid-10 vaccine set for distribution in mid-December and the S&P 500 being bolstered by rising home prices. Across the board the market benefited from all major sectors posting higher numbers.

Simpler’s traders were in the middle of the mix with trades focused on the bullish direction.

Strength across all sectors allowed traders to be selective in executing trades with the highest-probability and lowest risk.

Still, like last week, the market has shown how it can easily pull back quickly. Simpler’s traders continue to be vigilant in guarding capital while maintaining position sizing within their own risk tolerance.

Despite the sharp rally, Simpler’s traders are satisfied with taking modest gains at their targeted profit points while letting the market run to the upside.

We Saw: Rally that lifted market to record highs — 

  • News of Covid-19 vaccine ready before Christmas
  • Markets rallying across all sectors
  • 30,000+ is new Dow benchmark

We’re Watching: How to trail and profit from new highs—

  • Might be early… but how’s 2021 shaping up?
  • How will new lockdowns affect record rally?
  • Setups that open up quick gains, limited risk