对市场下一步走势的看法

来源: 于 2025-07-20 04:53:35 [博客] [旧帖] [给我悄悄话] 本文已被阅读：次

In the coming weeks both bulls and bears will probably be right at some point, and I stay risk on tactically because: 

Fundamentals holding up, earnings expectations of 5.8% Q2 YoY for SPX looking very beatable, and mag 7 valuation of 30x fwd p/e mid range since launch of ChatGPT;

US debt sustainability concern will help minimise extreme left tails during tariff negotiations;

This has not been a heavily participated rally, positioning nowhere as stretched compared to beginning of the year.