US indices rallied overnight led by “Big Tech” as the market appears to get used to hawkish noises from Fed members, sentiment was also helped overnight by some upbeat company earnings. Bond yields drifted lower taking the $US along for the ride and the S&P500 finally closed up +1.4%, we feel a break of this month’s high is almost inevitable over the coming week (s).
- We believe US stocks have bottomed for 2022 and the Tech Sector will eventually help the S&P500 rally another 5-10%.
MM remains mildly bullish on US stocks into Christmas
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