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Doha, Qatar
Posts: 9 since May 2021
Thanks Given: 11
Thanks Received: 8
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From BBG (link below): "But particularly in light of the rising resolve to fight inflation among central bankers, many sensed a change in the air after a year of virtually uninterrupted gains. "
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"As rough as it got, bargain hunters remained mostly undaunted. Retail day traders, this bull market’s steadfast ally, are again buying the dip, snapping up shares at a clip that according to JPMorgan Chase & Co. was unprecedented. Dip buyers emerged late Friday, sending the S&P 500 up more than 30 points in the final 10 minutes of trading."
https://www.bloomberg.com/news/articles/2021-12-03/two-years-of-market-swagger-go-missing-in-week-of-stock-upheaval?sref=xrmt8Ljy
...would be interested in views regarding if dip-buying will prevail this time eventually, or if the shift in central bank policies is fundamental enough to end the bull...
Personally I consider a Monday NDX rebound more likely than a continued sell-off, I think Santa rally bets will still play a role, long bonds have actually been rising the whole week, which could of course mean pricing in of a policy mistake - but the 2 year also rebounded Friday and is pretty close to where it was just eight days ago, so one could also argue that overall bond markets disagree with the extent to which the hawkish narrative is priced into equities... if instead Omicron was indeed the driving factor, then I wonder why stay-at-home trades should continue to under-perform...
supply chain issues may or may not be priced in by now - with NDX Friday low a bit more than 7% below the intraday ATH in November...
etc. ...
looking forward to others' assessments..!
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