The Nasdaq struggled yesterday but bounced back today in a rebound from three days of selling. What next? The JPM desk offered up this.
The bull case:
- Economic data inflects higher
- Positive July seasonals;
- Earnings deliver on expectations
- Bond yields peak
- Positioning tailwinds
The bear case:
- Macro sentiment deteriorates
- Tactical pullback arrives
- Weaker guidance
- AI theme abandonment
- Exogenous shocks
Nasdaq daily
h/t @MrMBrown
