Last week finally saw the broad US market play a little catch-up to the ASX with the S&P500 testing its September high, albeit just. The issue remains the influential tech stocks, the NASDAQ is still languishing a few per cent below its mid-November high – perhaps the sector will regain its mojo post-Thanksgiving.
- Following the recent consolidation, we still believe US stocks are set to rally through to Christmas but 4200 might be the limit for the S&P500 unless the aforementioned tech names can come back into favour.
MM remains mildly bullish on US equities into Christmas
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