In today’s briefing:
- Upgrading Consumer Staples to Overweight; Short-Term Bottom Potential Here
Upgrading Consumer Staples to Overweight; Short-Term Bottom Potential Here
- Our intermediate-term outlook remains bearish/cautious, and we continue to believe a prolonged downturn is likely, which has been the case since our 4/1/25 Compass. However, shorter-term…
- SPX is now 4.5%-5.0% lower than last week (when we said to expect the rally to fizzle), and is testing 5100-5120 support.
- 5100-5120 has been a key level several times dating back to early 2024, and is a level to trade against to the long side.
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