Prepare Before The Market Makes Its Move
Summary
- The Fed held rates at 4.25%–4.50%, but futures price in one to two 25 bps cuts by year-end.
- Q2 earnings surged +10.3% YoY, with 80% of S&P 500 companies beating EPS estimates and broad sector participation.
- July’s weak jobs report added only +73k jobs, with unemployment rising to 4.2%, the highest in over a year.
- The S&P 500 trades above key MAs, with support at 6313, 6200, and RSI overbought >75, signaling a pullback risk.
- Tech remains dominant, but small caps and value stocks show signs of rotation amid improving market breadth and falling inflation.
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