Background
The stock market is currently being held up by a massive amount of Fiscal and Monetary stimulus. But we are already seeing stimulus fatigue. Recently, Senate Majority Leader Mitch McConnell indicated he is reaching a limit of new large scale stimulus. At some point, the stimulus will fade and several major headwinds will be apparent. These should be strong enough to overwhelm the tailwind of lower interest rates and a reopening of the economy. The headwinds will likely be with us at least through 2021.
Less Capital Expense Spending For Several Years
Many corporations