Remain bullish and push a few new highs
Two weeks ago in our last post, we proposed that buying into the sell-off and VIX spike would make for a good long entry, both on equities (offshore) as well as on Oil. That play worked very well and markets are bouncing back rather hard. From here we think it is most probable that the market (U.S.) goes on to make a new all-time high. We do harbour some concerns around market breadth, especially within the Nasdaq index (US100), but even so we believe that over the short-term (until the end of the year), it is most likely that markets will remain bullish and push a few new highs.
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