It sounds like the markets are in an interesting spot right now, with the Fed’s 50bps cut and the rally in QQQ, SPY, and DIA breaking through resistance levels. The fact that sentiment is bullish but not at extreme levels is intriguing—there might still be some room for gains before a pullback, especially with speculative sectors like nuclear energy and renewables catching a strong bid.
That said, seasonality and election-related volatility could add some bumps in the road. What’s your take—do you think QQQ pushes to 500 before we see a pullback, or will the election year jitters kick in sooner?
Gun to the head, then I think 500 could get clipped in the coming weeks, but that will be a tough nut to crack before the election. I'd say frustrating chop is most likely from here to the November election. If we get a clear result (either way), then Nov-Dec could see a strong rally. A Bush/Gore scenario wthout a clear winner could be problematic.
It sounds like the markets are in an interesting spot right now, with the Fed’s 50bps cut and the rally in QQQ, SPY, and DIA breaking through resistance levels. The fact that sentiment is bullish but not at extreme levels is intriguing—there might still be some room for gains before a pullback, especially with speculative sectors like nuclear energy and renewables catching a strong bid.
That said, seasonality and election-related volatility could add some bumps in the road. What’s your take—do you think QQQ pushes to 500 before we see a pullback, or will the election year jitters kick in sooner?
Gun to the head, then I think 500 could get clipped in the coming weeks, but that will be a tough nut to crack before the election. I'd say frustrating chop is most likely from here to the November election. If we get a clear result (either way), then Nov-Dec could see a strong rally. A Bush/Gore scenario wthout a clear winner could be problematic.