Page 35 - Nalyst Note News Today

"Short-term momentum has shifted negative per a new daily MACD 'sell' signal," Fairlead Strategies' Katie Stockton said.

"We see potential for a strong rally whenever the macro picture turns less negative," JPMorgan's Marko Kolanovic said.

"The downside to both equities and government bonds could still be substantial, even after the damage that we have already seen," Goldman said.

"A 4% cash yield provides a real alternative to stocks, justifying lower multiples versus [the] last decade with TINA," Bank of America said.

"We continue to see a weakening trend in retail demand, and at the same time, multiple capitulation indicators are now flashing a warning sign."

If the Fed sticks to its targets, its balance sheet should decline by $1 trillion in both 2023 and 2024, with ramifications for both stocks and bonds.

"We believe it would be a mistake for the Fed to increase risk of a hawkish policy error and endanger market stability," JPMorgan said.

The three biggest tail risks the stock market faces include sticky inflation, hawkishness from central banks, and geopolitical uncertainty, BofA said.

"[The] S&P 500 rallied after support at 3,900 bent but did not break," Bank of America's Stephen Suttmeier said.

"At this pace we can see many Apple stores having Pro shortages by late September/early October," Wedbush said.