There Are No Signs Of S P 500 Capitulating Yet Says Strategas Analyst
Meanwhile, speaking with CNBC’s Squawk Box, Chris Verrone, the Head of Technical & Macro Research at Strategas, shared his view on the potential capitulation, or a potential lack thereof. Namely, numerous stocks have returned to their pre-Covid levels in terms of the prices, especially among the smaller cap stocks, so Verrone expects the S&P 500 to fall more in the near term. More pain ahead Moreover, the expectations the markets had around an aggressive stance from the Federal Reserve (Fed) around raising interest rates seemed justified when the Fed decided to hike rates in the most aggressive hike since 1994....