From what I've read investors are looking past 2020 and instead pricing stocks based on what they think future performance can be over a year from now. But why is there a limit to how forward looking investors are willing to be? Whether there's a V-shaped recovery or U-shaped recovery, the market eventually goes back to where it was. People are OK looking past 1 year, but not 2 years? Not 5 years? I don't fully understand.
People buy and sell stocks for many different reasons. Not just where they think the market will be in six months or a years time.
The stockmarket will move the way it wants to move. It is sheer arrogance to think you know better. Why would you? Do you know every bit of information on any given stock? However, the Wall Street sharks know more than any aspiring retail trader because they have contacts within the various industries. So, they know fact from fiction. Focus on your trading if you want to make monies in the stockmarket. It is your best move.
The further out you look, the more uncertainty there is. The market doesn't care whether sales and earnings are good or bad, only that they meet or beat expectations. More than anything the market hates uncertainty.
People are stupid and led easily like sheep!! Market isn't related to anything real. I thought 25years ago, a stocks value was based on earnings via a calculation, not people buy price goes up if no 1 is selling. ( Business Value / Total shares ) = Actual Value but no!!