and buy stocks as seasonality and other factors are in place to drive the broad equity index back up to an area not seen in six months, according to Fundstrat's lead technical strategist. may be facing a second straight slip on Tuesday, but it has advanced by roughly 3.6% in February even as Treasury yields have been climbing. The S&P 500 was modestly lower at around 4,117 early Wednesday.
"So in the back half of February, to the bears' credit, you do tend to see a little bit more evidence of consolidation and possible weakness. But I think that's going to prove minor," he said."I don't expect the S&P to get down under 3,900. Even on weakness, I'd be a buyer and I fully expect it we're going to push back up above 4,250 into March." Yields have pushed higher in the bond market selloff, with theon Wednesday hitting a 2023 high above 4.63%.
The S&P 500 has picked up nearly 8% since the start of 2023 and Newton said he sees three items underpinning the stock market.
$ICU will explode. Medical holdings company, currently at all time low with 2 medical catalysts confirmed soon. Moving up slowing on relatively low volume right now. Very bullish short data as well. Now is the time to get in. Conference call with shareholders today at 3pm CST
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Stock market news today: S&P 500 whipsawed after CPI dataUS stocks fall after CPI report shows inflation ticked down but was higher than expected in January 'I have good news, and bad news...' What charts are you watching 😂 Yes. We need a team of scientists to do another research to tell us that inflation really happens, and it is still climbing. AND, ultimate Financial collapse could happen to eclipse the tragedy of the flip housing crash in 2008/2009. Suckers.
Source: BusinessInsider - 🏆 729. / 51 Read more »