Goldman Trader: Market Dips Will Be Shallow & Bought In Short Order

By Goldman trader Shreeti Kapa 

Mark-market till mid-August, we’ve had a very narrow breadth ATHs in both the SPX and NDX. Winners kept winning and losers kept losing.

Falling policy uncertainty, broadly US friendly trade deal announcements, dovish Fed policy expectations, relatively benign inflation prints and a very strong US earnings season (especially in Mag7 & AI themes) have all underscored confidence in the Goldilocks environment.