The projections from economists are that the total initial claims for unemployment will fall to 4.5 million for the week ended on April 18.
That would still be a horrendous number. The total weekly figure at the beginning of this spike was 280,000.
Last week, 5.25 million people were able to file new claims for unemployment. That brought the total for the past four weeks to 22 million initial claims.
Problem for the fundamental investor is that fundamentals keep getting thumped by optimism over re-opening, optimism over a vaccine, belief in the Federal Reserve.
I think this rally has a good chance of running into May–maybe even late May. Depends on the non-fundamentals.
Jim, been a follower for a very long time. How much longer do you feel this rally has? The fundamentals are as bad as I have ever seen. Also I am not going to hold you to it but how low do you think the market can go this summer?