A very mild word of caution… US equities have rebounded from the December sell-off and we’re now approaching the 50% retracement mark.
As US earnings get underway for the Dec quarter, we’ve seen bank earnings in-line with consensus. Towards the end of next week, we’ll begin to see large multinational industrial companies report. It seems plausible, that markets could see some level of resistance begin to build.
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The graph below shows the 2 year history of the S&P500.
