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Fake-Out or Break-Out?

Released on Wednesday, June 28, 2023MARKETS
Even though the debt ceiling debate is behind us, and the Fed has completed its June FOMC meeting, investors should continue to be buffeted by headwinds from the longer-term effects of an aggressive rate-tightening policy on the economy and stock market. In addition, despite the surge in the Nasdaq-100 since AI has become an all-consuming topic, 50% of all Nasdaq-100 bull markets since its inception were fake-outs and went on to set an even lower low after advancing 20%. Also, with ever-shrinking breadth as the equity markets grind higher, is this a sign of disappointment to come and remind us that we are in a seasonally weak period for equities? For answers, tune in to hear Sam Stovall, Chief Investment Strategist at CFRA Research, discuss where the stock market is likely to take us during the second half of the year and how to position your portfolios accordingly.

Sam Stovall
CFRA Research, Chief Investment Strategist

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