The coronavirus didn't go away, it has just been resting...
We are starting to see new coronavirus cases surge in several states across the US, specifically in the South and Southwest.
So much so that they are now seeing numbers they haven't seen since the pandemic began...
For example, Arizona has seen more than 1,000 new cases just about every day for the past 2 weeks.
And they saw a new record today with over 2,400 new cases reported.
The governor's stay at home orders were removed May 15th and the numbers have been climbing just about ever since.
They are still a long ways away from what we were seeing in New York, but the trajectory is alarming and causing some to question whether or not we opened back up too soon...
As you can see, that is an alarming trajectory, especially when this thing was supposed to start dying down in the summer...
The surprising thing is that the stock market has continued to mostly be immune to the spike in coronavirus cases.
Apart from a freak-out last week, it has mostly continued to march higher day after day.
My guess is that the stock market thinks the most recent upsurge in new cases is just a blip on the way to us getting a handle on the virus, or it is about to take a significant tumble.
Either way I suspect the stock market is about to get volatile in the coming weeks.
Overall, what do you think, did we open back up too soon?
Stay informed my friends.
-Doc