US NASDAQ futures have rallied +1.2% in late trading this morning after FB’s result, in our opinion we should see follow through buying in the out of favour sector with MM’s target over 15% higher. Strategically if they cannot gain some upside momentum after finally receiving some glimmers of positive news it will be a worrying red flag that growth stocks are set to fall further and faster than we have been expecting.
MM is mildly bullish US equities over the coming weeks
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