Wintle: US will rally in Q4

Neptune's Felix Wintle anticipates a Q4 US rally despite the market having moved up 50% since March.

Wintle, investment director and head of US equities at Neptune, says with the market having moved so far there is a strong case to be made for a market correction of some kind. However, he says the more likely outcome is for the market to consolidate, i.e. to go sideways for a while then move up from there, culminating in a Q4 rally. "The main reason for this is most managers have missed the majority of the rally; we discern this from the high level of cash on the sidelines and the still cautious tone coming from most of the sell side research houses," says Wintle. "In order for th...