Oppenheimer: SP 500 Could Rise Another 12% by Year-End — and These 2 Stocks Could Follow
July signed off with a bang, in what turned out to be the stock market’s best month since November 2020. Better-than-anticipated Q2 earnings from some of the world''s biggest companies alongside comments from the Fed around easing future rate hikes put investors in an optimistic mood once again. Is the rally sustainable or are we about welcome back the bear market shortly? From a purely technical perspective, Oppenheimer’s Head of Technical Analysis Ari Wald sees reasons to believe the surge has legs. “For the SP 500, incremental positives include last week’s defense of the 50-day average and fresh inflection in the weekly MACD,” Wald explained.
Oppenheimer: SP 500 Could Rise Another 12% by Year-End — and These 2 Stocks Could Follow
July signed off with a bang, in what turned out to be the stock market’s best month since November 2020. Better-than-anticipated Q2 earnings from some of the world''s biggest companies alongside comments from the Fed around easing future rate hikes put investors in an optimistic mood once again. Is the rally sustainable or are we about welcome back the bear market shortly? From a purely technical perspective, Oppenheimer’s Head of Technical Analysis Ari Wald sees reasons to believe the surge has legs. “For the SP 500, incremental positives include last week’s defense of the 50-day average and fresh inflection in the weekly MACD,” Wald explained.