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How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Dow Quick Take

Stock-Markets / Stock Markets 2020 Dec 25, 2020 - 04:31 PM GMT

By: Nadeem_Walayat

Stock-Markets

My pre election forecast was for a relatively mild sideways trend into the end of the year awaiting a stream vaccine good news during January 2021.


However, the stream of vaccine good news has come a couple of months early and sent the Dow soaring to a new all time high of 30,000. My understanding of the process for the roll out of the vaccines is that they are unlikely to make much impact until Spring, so despite the covid relief rally, the virus will continue to ravage the US population and economy for several more months. A quick technical take suggests the Dow is likely to fill that Pfizer induced gap, so we could see the market trade down to around 28,500 as the market digests Covid vaccines reality though volatility is high.

(Charts courtesy of stockcharts.com)

What about the tech stock heavy Nasdaq?

We are seeing a deviation to the downside against the Dow which suggests to expect a deeper correction than what's in store for the Dow, to at least likely to fill the series of chart price gaps down to 11,250 which should offer an opportunity to accumulate into AI tech stocks that are trading at or near fair value.

AI Tech Stocks Buying Levels and Valuations for Q4 2020

The rest of this analysis has first been made available to Patrons who support my work so immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $3 per month. https://www.patreon.com/Nadeem_Walayat.

AI Stocks Portfolio Buying Levels Q4 2020 Analysis

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Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2020 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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