Overnight saw another solid session for US stocks with most major indices rallying around +0.8% as corporate earnings more than satisfied investors, suddenly after a horror start to the week the S&P is quickly back within less than 1% of its all-time high, another example of why it rarely proves successful to fight strong trends. We haven’t changed our stance of being keen buyers of weakness but we should also remain mindful that our optimum target pullback area for this largely followed global index is slowly edging higher as stocks firm.
MM remains a keen buyer of US stocks into the next period of weakness
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