Friday saw US equities bounce back after a tough few days and although our previous target for the NASDAQ of +13,500 looks too optimistic the +2.9% rally on Friday certainly brings a test of 12,500 back into the frame.
- At this stage we are still short-term bullish US stocks with the extent of any gains likely to be determined by whether the tech names can add to their strength into the weekend.
MM remains mildly bullish on US equities into early 2023
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