Summary
Akhil’s November market update delayed by Omicron variant news. Markets sold off sharply on Friday Nov 26. The All Ords and FTSE bounced off 200-day moving averages. IAG (British Airways parent) chart had been signaling travel restrictions would return via a series of lower highs. Pfizer benefits from ongoing vaccination cycle. The US upwards finish to 2021 now uncertain due to Omicron.
Key Claims
- Omicron variant caused sharp market selloff on Nov 26. — confidence: high
- IAG chart was signaling travel restrictions would return via lower highs at resistance levels. — confidence: high
- Annual COVID booster programs are “incredibly lucrative” for vaccine makers like Pfizer. — confidence: medium
- The 2021 Roadmap called for an upwards finish to the year — now in doubt. — confidence: high