From a risk/reward perspective, we continue to believe US stocks have bottomed and will rally into Christmas and potentially early 2023 – our view is still based on how short/underweight traders and investors are positioned. October’s 8.8% rally by the US equities climbed an ongoing wall of worry and if the Feds comments are “not too bad” this week we could be significantly higher before many investors have even considered their underweight/short stance.
- Following the latest leg lower since mid-August we remain bullish on US stocks now believing they’ve probably bottomed for 2022.
MM remains bullish on US equities into Christmas
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