The Nasdaq Composite has rallied 11.69% in the past 20 days, recovering towards an all-time high. In the near term, the U.S. stock market faces numerous threats, including rising COVID-19 cases heading into the winter season. The strong performance of Big Tech, a possible post-election stimulus, and vaccine breakthroughs could fuel equities in November.
The Nasdaq Composite faces several threats in the fourth quarter that could potentially hinder its strong technical momentum. But numerous vital catalysts could uplift its momentum, particularly after the presidential election.
The three critical factors for an extended Nasdaq recovery are Big Tech’s resurgence, a post-election stimulus, and the vaccine breakthroughs.
Since September 23, the index climbed 11.69%, nearing its all-time high it hit on September 2.
The year-to-date performance of the Nasdaq Composite. | Source: Yahoo Finance Dr. Fauci’s COVID-19 Warnings and Gloomy Earnings are Nasdaq Risks
Since September, Dr. Anthony Fauci has voiced concerns about the worrying trend of COVID-19 in