Post-FOMC Bounce Summer Roadmap
Relief Bounce Needs Confirmation
Chip and AI stocks are bouncing back as South Korea offered bailout money and restricted short selling. This isn’t sustainable, but for now it helps SPX get back above critical 7392, QQQ above 683 and COMPQX back to 25223. Above is bullish; below is not.
You have my post-FOMC bounce roadmap included in my market thoughts post from yday. Keep in mind lots of macro triggers can enter at any moment of course - AI competitors, rates rising, protracted Middle East war... - so keep those hedges.
I see dollar and oil and equities are up this morning. Just need dollar & oil & yields to stick for equities to reverse. But it could be a few weeks of chop before a stronger impulse lower. Here is my “summer roadmap”:
