Stocks Take Break; Raising S&P 500 target to 3,800 for Year End

Given the fierce move by equities in the past few weeks, it is not entirely surprising to see stocks consolidate over the last few days.  And not surprisingly, there are more than a few who believe markets have become overly exuberant.  To an extent, I understand this. There has been both a sizable move in markets coupled with a sizable rotation into epicenter stocks. However, I still see upside into year end. More on this below.

On the COVID-19 front, daily cases came in at 181,54...

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