US stocks rallied overnight as the US 10-year bond drifted lower, this is the roadmap we’ve been alluding to over the last fortnight and at this stage we believe the likes of the S&P500 and NASDAQ will again post fresh all-time highs.
MM still believes the NASDAQ can challenge 14,000 in March / April.
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US 10-year bond yields edged lower overnight which was enough for stocks to find some buying. Hence by inference if we are correct and yields are set for a few months “rest” then our call for stocks to new highs is not vaguely aggressive.
MM is still looking for a period of consolidation from bond yields short-term.
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