Payne's Perspective: January 11, 2021: Beast Mode

1/11/2021
By Charles Payne CEO & Principal Analyst

Just as we were settling into the notion of a more orderly and less stressful New Year, all hell broke loose. Heartbreaking images from the week will stay with us forever. I hope at some point, we’ll use this as a rallying cry for solutions rather than fodder for more division.

The stock market had a moment out of the gate that had folks wondering if the special rally moved on with Father Time. The first day of trading began with a monster swoon rivaling record first-day declines in history. They all climbed off intraday lows to finish down by only 1.5%.

The buy-on-dips crowd was still waiting in the wings, so when the dust settled on the week, the market was still in Beast Mode.

Major Indices	S&P 500	NASDAQ	Dow Jones	Russell 2000
Jan 4^th	3,700	12,698	29,881	1,945
Jan 8^th	3,824	13,201	31,097	2,091
Week Change	+1.83%	+2.43%	+1.61%	+5.41%

To read the full report, contact your account representative or email Research@wstreet.com

Charles Payne
Wall Street Strategies

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