Weekly Market Review & Analysis For December 14, 2020   

Each of the major market indices set new all-time highs this week to resumption the stock market's emphatic trend. The Nasdaq Composite and small-cap Russell 2000 advanced 3.1% respectively, while the S&P 500 with +1.3% and DJI Average posting +0.4% ended with moderate gains.  

As anticipated when the Nasdaq Composite noticeably betters, the central information technology sector with posting +3.2% claimed the top spot in the S&P 500 list, elegantly followed by consumer discretionary with +2.3% and materials with +1.9% sectors. With a 4.3% decline, the energy sector ceased to profit-taking share, and the hot communication services sector posted -0.5% and were the other uninterested sector with traders and investors. 

There were positive market factors throughout the trading week, which included news that a giveaway (stimulus) agreement is close to being struck, the Federal Reserve asserting its "extraordinarily accommodative" financial policy stance, the BioNTech-Pfizer Covid-19 vaccine roll-out in America, and report that Apple is plotting to increase iPhone production rate by 30% yr/yr starting in the first six-months of 2021.

To be more precise, the scope of a possible stimulus package is looking to be approximately $900 Billion, although discussions extended into the weekend among continued differences. The Federal Reserve pledged to purchase at least $120 Billion of U.S. Treasury and mortgage-backed bonds per month until actual progress has been made regarding inflation and employment targets. 

The Federal Reserve's position helped investors and traders overlook relatively discouraging retail sales numbers for the last month. Higher weekly initial jobless claims also put downwards stress on the U.S. Dollar Index, which declined to its lowest point as far back as April 2018.

Market action elsewhere

The market of the Ten-year yield widened six basis points to close at 0.95% amid intensified selling interest in part due to the Federal Reserve's dovish policy and expectations for a new quantity of U.S. Treasuries required to finance a possible stimulus compromise. 

Most major Eurozone and Asian market(s) were robust. However, the United Kingdom posted a slight drop as investors and traders waited for the story on a Brexit deal. The BOG (Bank of England) also kept standing on the sidelines amid the skepticism about the potential call for action. 

Germany’s proponent DAX index was especially hot after the manufacturing data release in that country was much higher than anticipated. In the rising sun (Japan) nation, stocks drew support from the Tankan survey of business sentiment, which accelerated at the fastest pace in eighteen years.

Bitcoin Technical Analysis and Outlook

Finally, Bitcoin said goodbye to the firm's $20,000 physiological (16,321 euro) resistance and headed to the newly Trade Selector System (TSS) charted territories! All major cryptocurrency market altcoins are on the rise as well.

Upcoming Outer Coin Rally $24,230, Next Outer Coin Rally $28,100, and Followup Outer Coin Rally $29,450 - There is no TSS significant hint of the crypto coin drop or any support level - Stand by.

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