The Momentum Rally Has Faded
September 6, 2023 - Summer is officially over and so too is the momentum-based tech rally that happened in late June and July. The markets have pulled back slightly but the first weeks of September will be the ones to watch, says Chief Global Strategist Rick Pitcairn in this month’s Market in 5 Charts. In this month’s video, Pitcairn also says that the odds of a recession this year are approaching zero. “There’s a tension here in the marketplace between a forecast for a recession that is now really down to zero for 2023 and pushed into 2024,” he says.