Option Millionaires

[uranium-pinto-beans]

Taking a breather
After a huge sprint over the last three sessions, the stock market is taking a breather today. The major indices are down between 2.8% and 4.0%.
Factors contributing to the selling interest include:
General profit taking in a market that realizes the worst of the coronavirus caseload hasn't been seen yet and isn't confident that the recent rally effort is sustainable yet.
A feeling of dismay that the passage of the fiscal stimulus bill in the House is still being deliberated and is at potential risk of being delayed due to rumblings that a voice vote may not fly, ultimately requiring members to come back to DC for a recorded vote.
Underlying misgivings about the speed at which the U.S. economy can/will rebound given the severe damage done by forced shutdowns and the delayed receipt of aid (note: direct payments aren't expected to arrive in accounts until three weeks after fiscal stimulus bill is signed).
All 11 sectors are in negative territory, with losses ranging from 0.8% (consumer staples) to 5.4% (energy), the latter of which is being rolled back along with oil prices ($21.33, -1.27, -5.6%).
The S&P 500 and Nasdaq Composite are down 2.8%; the Dow Jones Industrial Average is down 3.2%; and the Russell 2000 is down 4.0%.