Overnight US stocks continued to rally with the broad based S&P500 index closing within a few points of its September all-time high, if the big tech names had fared better we would have already breached the ceiling i.e. Google (GOOGL US), Amazon.com (AMZN US) and Microsoft (MSFT US) all slipped last might. While we remain bullish I would again reiterate our “buy the dip sell the pop” mantra into Christmas, in other words we don’t believe it’s the correct stage of the cycle to be chasing equities into fresh highs.
MM remains bullish US equities into 2022
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