Citadel Securities: July's market reset sets up August bull rally

businessinsider.com

Citadel Securities' Scott Rubner says July's market turmoil was a healthy reset that positions stocks to resume the bull rally in August. Rubner cites four indicators: retail investors trimmed high-growth tech positions without abandoning the market, leveraged ETF assets fell over $60 billion from their June peak, volatility was concentrated in individual stocks rather than the broader index, and strong earnings fundamentals are back in control. He notes S&P 500 earnings growth expectations jumped from 22.4% to about 45% this season, with the reset driven by rotation and deleveraging rather than macroeconomic deterioration.


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Citadel Securities: July's market reset sets up August bull rally | News Minimalist