After Friday’s bloodbath across the AI and Technology names, the market is trying to find its footing today, with a potential rebound.
The odds of an October hike are now lower than 20%. Here, interest rates are likely looking at the falling equities market and the midterm election timing, betting that the Fed will pause instead.
My overall sense is that last week was more of a positioning wipeout rather than a liquidity issue. I do not believe the market has topped in the near term (i.e., before year-end). Therefore, I see this market correction as a “dip” in my books.
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DISCLAIMER: This newsletter is intended for educational purposes only. Any information or analysis in this note does not constitute an offer to sell or a solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice, nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.