STRENGTH IN SERVICES STOPS MOMO SEASONAL RALLY
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Strong Services Data
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- Stocks have been rallying hard for the following reasons:
- Seasonality is positive.
- As we previously shared with you, momo gurus’ highly misleading narrative that focuses on the Fed slowing rate increases, but not on the terminal rate has taken hold.
- Momo gurus are projecting S&P 500 to reach 4500 by the end of the year.
December 6, 2022