Overnight we saw US stocks finally close slightly higher after a choppy session with tech stocks continuing to enjoy their recovery. Many pundits are calling equities to roll over this year but when we take a look at the market since the GFC the bull market still feels alive and well i.e. MM feels increased volatility feels likely this year but with rate hikes priced into markets the next catalyst for equities to move meaningfully in either direction isn’t easy to pick.
NB a healthy pullback by the S&P5500 towards 4000 is close to 15% and wouldn’t vaguely surprise us this year.