The last time U.S. debt was downgraded the S&P 500 fell by 15% but recovered within months. We have been highlighting that equity markets are overbought and could pullback 5%-10%. There is good support in the 4300-4100 area but a move to the 4000 can’t be ruled out. We believe this is the correction that investors on the sidelines have been waiting for.View Article
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