Favor Defensives as S&P 500 Tests 4165-4200; Buys in Consumer Staples & Europe/UK Telecomm
The $SPX is approaching the 4165-4200 area; we continue to believe this will cap upside in 2023. Considering limited upside, we continue to favor...
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Upgrading Communications, Downgrading Staples - Both to Market Weight; US Dollar Major Top
We believe equities are still in the midst of a rally/short squeeze, but that the rally is likely to fizzle in the $SPX 4100-4165 area. Upgrading...
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Global Indexes Approaching Major Resistance
Broad global indexes are bumping up against logical downtrend resistance. As a result, our outlook remains cautious and our baseline expectation...
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EM Telcos: Video Growth Drives an EM Wireless Growth Inflection.
Video is becoming a “killer app” in emerging markets and now accounts for over 50% of data volume on many networks. Low median age, limited...
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