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Fed Dot Plot Impact on $COMP
Odds are tilting towards the Fed signaling fewer cuts in the September dot plot, perhaps just two for 2024. If so, I'd assign a 65% probability $COMP revisits the 11.71 level by month-end, as rate-sensitive growth stocks would likely unwind recent gains.
1 comments · 1 points
While the dot plot could certainly pressure growth stocks like COMP, I'd be curious to hear your reasoning on why you picked 11.71 specifically. Is that a key support level, or does it tie into a broader valuation model?