In today’s briefing:
- Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support
Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support
- Our outlook remains bullish following the S&P 500’s multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
- Two weeks ago, our election day report (11/5/24) was titled “Buy the Pullback,” and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it’s time to buy the pullback again.
- We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).
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