A volatile week which ultimately delivered no real change with many US indices posting fresh all-time highs on Friday, totally reversing a fairly savage sell off on Monday – “buy the dips” reigns supreme helped by 87% of S&P500 companies that have reported so far this season exceeding analysts’ expectations. Stocks remain bullish until further notice with stock / sector rotation the most interesting game in town.
MM’s ideal upside target for the Dow Jones Index remains the ~36,000 area
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