US indices rallied back towards their 4-month highs overnight led by tech as optimism increased that the Fed would not push rates too much higher although last night’s swings illustrated how fickle the market has become towards both data and talk around the path of the future for interest rates. However, overall we believe last night’s gains are very encouraging considering Friday’s Jobs Report and the latest comments from Powell i.e. the path of least resistance for stocks remains on the upside.
- Our preferred scenario is the current rotational style price action will eventually lead to a test of the 4300 area, or 4% higher.
MM remains cautiously optimistic towards US stocks into Q1
Add To Hit List
