(DAILY NOTION): NAS100, SPX500, and US30 Futures Starts The Week on a Positive Note, Next Mover: Impact of New Covid-19 Strain

NASDAQ 100 (as of Dec 28, 2020 at 3.05 p.m.)

Source: Yahoo Finance

SPX 500 (as of Dec 28, 2020 at 3.05 p.m.)

Source: Yahoo Finance

US30 (as of Dec 28, 2020 at 3.05 p.m.)

Source: Yahoo Finance

US30 futures rose 149 points during the overnight trading on Sunday. Both the SPX500 futures and NAS100 futures also showed mild positive gains.

Overall, analysts opine that it will a quiet week on the trading floors this week.

The markets started this week with a bout of optimism upon news that President Trump has signed off on the Coronavirus relief bill. It was a great follow-up to the finalisation of the Brexit deal on Christmas Eve as these two matters have put a certain degree of uncertainty over the market lately.

The SPX500 broke through the 3,700 level to refresh intraday high near 3,710 early today upon news of Trump’s sign-off.

With Europe starting the mass vaccination on Sunday and other countries following suit, it is adding on to fresh hope that some form of normalcy will be seen in the world soon.

However, the new strain of Covid-19 is a reminder that the virus has not bid farewell yet. This new strain has been confirmed in other countries like Japan, France, and Canada over the weekend.

Furthermore, Dr. Anthony Fauci, head of the U.S. National Institute of Allergy and Infectious Diseases, has issued a warning that a surge in new cases can be expected in the U.S. after the Christmas and New Year celebrations.

FOLLOWME User Sentiment (as of Dec 28, 2020 at 3.05 p.m.)

SPX500

Short – 82.74%

Long – 17.26%

NAS100

Short – 78.92%

Long – 21.08%

US30

Short – 76.45%

Long – 23.55%