Fundstrat's Mark Newton Predicts Choppier Markets Amid Recent Volatility

On November 24, 2025, Mark Newton (Fundstrat’s global head of technical strategy) stated on CNBC Squawk Box that investors should expect choppier markets ahead [1]. This prediction aligns with recent US market volatility: between November 20-21, the S&P500 saw a 2.96% drop followed by a 0.72% recovery, while the NASDAQ Composite (tech-heavy) experienced an even larger swing of -4.25% then +0.50% [0]. The Dow Jones Industrial Average also showed moderate volatility (-1.75% then +0.95%) [0]. Chinese indices (Shanghai Composite, Shenzhen Component) showed no change as of November24, likely due to timing differences or data availability [3]. Directly affected instruments include major US indices (S&P500, NASDAQ, Dow Jones) and tech-heavy stocks like NVIDIA (NVDA) and Apple (AAPL) [0]. Related sectors are technology (high volatility), consumer discretionary (sentiment-sensitive), and financials (rate-sensitive) [2].

Newton’s prediction is rooted in technical analysis, which suggests the recent market swings are part of a broader choppy trend [2]. Decision-makers should address two key information gaps: (1) whether the choppiness stems from technical factors (e.g., overbought conditions) or fundamental issues (e.g., inflation concerns, Fed policy), and (2) sector dispersion to identify outperformers/underperformers (Newton previously highlighted selectivity in software stocks [2]). Critical factors to monitor include: 1) Technical support/resistance levels (e.g., S&P500’s 6,500 recent support [0]), 2) Upcoming inflation reports and Fed comments (late Nov/early Dec), and 3) Sector rotation between growth (tech) and value (financials/energy) stocks.

The primary risks from choppy markets are higher price swings (volatility risk), increased transaction costs, and potential losses if not managed properly [0]. Overexposure to tech stocks (due to their higher volatility) amplifies risk [0]. While no explicit opportunities are highlighted, selective investing in sectors like software (as suggested by Newton [2]) may offer relative stability. Investors should adjust position sizes or use hedging strategies to mitigate volatility risks.

This analysis synthesizes Newton’s prediction with recent market data to provide context for decision-making. Major takeaways: 1) Choppy markets are expected, aligned with recent volatility; 2) Tech stocks and major US indices are most vulnerable; 3) Monitor technical levels, economic data, and sector rotation; 4) Volatility management is critical. No prescriptive investment recommendations are provided—users should conduct their own research.