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US indices posted new gains on Tuesday, having recorded a 0.3% increase in the S&P 500 and 1% jump in the Nasdaq Composite.
Sadly, the same can not be said to the DJIA, which dipped by 0.2%, even though Apple announced that it will introduce new innovations on April 20. Obviously, no matter how strong the growth there is, it cannot continue indefinitely without corrections.
At the same time, the third wave of COVID-19 continues to loom over Europe. In France, approximately 50,000 new cases were recorded last Thursday. Authorities believe that the new strain of the virus spreads faster, although its lethality is the same as the first strain.
Forecasts:
The DJIA is currently at 33.684 points, and it is projected to range between 33.300 - 33.900 points today.
The US index, meanwhile, hit 91.70 points, but it is expected to range from 91.20 to 92.00 points today.
Conclusion:
The growth rate in the last two weeks is very high and the market cannot sustain such a move for a long time. A strong correction is inevitable.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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