ICYMI: Growing calls for a correction in equities
Is the market headed for a sharp retracement by year-end?
That seems to be the line of thinking among the big houses (↑) as of late at least.
The frothy levels in equities were highlighted in the risk considerations (second bullet point) last week (↓), and that seems to be one of the main reasons that perhaps we could see a correction take place more than anything else.
COVID-19 fears are still ever present but so far there hasn't been much escalation on delta variant concerns so instead look towards slowing economic data or central bank talk to perhaps provide the trigger for any sizable move in the market.
That being said, dip buyers have proved us all wrong many times already in the past since the pandemic began. What more another time especially when the printing press is still running on full throttle at the moment. Brrrr~