For those of you holding cash right now I'm curious what it would take for you to look to get back into the market? Is it a price target or some fundamental change in the economic data / outlook?
I remain mostly invested, but I'm holding a decent cash position at the moment. Before I redeploy my cash I'm personally looking for the treasury market to stabilise a bit and for the S&P500 to fall below 3,700. Assuming a recession isn't imminent I think a 16-17 PE on the S&P500 is about right given the move we've seen in yields.
I suspect 3,700 won't be the absolute bottom, but it would be a level I'm comfortable to redeploy my cash. In theory I could see the market falling as low as 3200s, but it's hard to imagine the market going much lower than this outside of a very hard landing.
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