Welcome To H2 - Probably Trickier Than H1
As the July 4th hangovers subside and Big Money gets back to work ... we catch you up on markets.
DISCLAIMER: This note is intended for US recipients only and, in particular, is not directed at, nor intended to be relied upon by any UK recipients. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Cestrian Capital Research, Inc., its employees, agents or affiliates, including the author of this note, or related persons, may have a position in any stocks, security, or financial instrument referenced in this note. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice. Companies referenced in this note or their employees or affiliates may be customers of Cestrian Capital Research, Inc. Cestrian Capital Research, Inc. values both its independence and transparency and does not believe that this presents a material potential conflict of interest or impacts the content of its research or publications.
Welcome Back!
The question for H2 is, what does Big Money do next, having printed money for six months with equities on a tear in H1? Does it sell into this "new bull market" narrative, when FOMO has now replaced fear for all but the most stalwart of bears? If so we believe this will be short-term distribution followed by a new buying run, since all the backdrop indicators - growth, inflation, rates outlook, jobs - are all supportive of equities moving higher over the next year or two.
And with that ... onto our usual charts for our Premium and Pro members.