US stocks enjoyed a strong bounce overnight although the bounce hardly registers compared to the markets 25% pullback from its 2022 high. Our preferred scenario is we see the broad based S&P500 bounce back towards its June highs, or another 10% higher.
- MM sticks to our mantra that 2022 will be a year investors should focus on selling strength as opposed to buying weakness but if we were traders we would be buying in the current region.
MM remains neutral to bullish US stocks short-term
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