US stocks extended the previous weeks strong rally post the Feds hike but without the gusto exhibited by the ASX i.e. the US indices have a large tech weighing but has a low resources component. While we remain bullish the S&P500 at least over the coming weeks we believe new all-time highs is going to be a big ask unless we see an unexpected dramatic bullish turnaround towards the high growth FAANG stocks – we think growth stocks bounce but don’t make fresh highs.
MM remains bullish US stocks short-term
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