US stocks were mixed overnight but the broad based S&P500 still managed to post fresh all-time highs courtesy of a booming tech sector, now of course a major influence on many US indices. History tells us 2 things which are important to how we’re viewing overseas stocks at this stage of their cycle:
- Fighting a market making fresh all-time highs is a great way to underperform in the stock market.
- Even the strongest bull markets do correct and after such a stellar advance since March 2020 another 350-400 point pullback is likely at some stage in 2021 hence our target line for a pullback simply edges higher as the market posts fresh milestones.
MM remains a keen buyer of US stocks into meaningful weakness
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