V2 Model June 24 2023 CHANGE

Will The Bear Market Resume?

Recap

US stocks notched their worst week since March. The S&P 500 Index ended the shortened holiday week 1.4% lower while the Nasdaq 100 benchmark fell 1.3% as investors took profits from the year’s winning technology names. The second-quarter stock rally—fueled by the frenzy for growth-oriented artificial intelligence stocks—is fraying under the threat of more rate hikes and fears that the full economic impact of aggressive central bank policy has yet to be felt. Without the AI narrative, the stock market would have been “a lot rockier,” according to Linda Duessel, senior equity strategist at Federated Hermes.

V2 was down this week and we will make a change during Monday’s session.

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