⚠️Crash Alert ⚠️
2024 vs 2008
Dow jones .
Topping formations have certain characteristics
If we correlate 2024 with 2008 we need to tolerate patience .⚠️
* Pause /consolidation
*Upthrust .
* Ascending channel .
*Sharp correction .
* New Highs on lower volume .
*Death… pic.twitter.com/djwDKhnGD7— The Great Martis (@great_martis) May 12, 2024
2024 mirrors the ominous patterns of 2008 in the Dow Jones, with topping formations signaling potential danger ahead. Analysts warn of a slowdown in the S&P 500 and caution against complacency amidst mounting economic challenges.
- Topping formations reminiscent of 2008 emerge in the Dow Jones, including pause, consolidation, upthrust, and sharp correction.
- Analysts, such as those from Stifel, predict a downturn in the S&P 500, fueled by the Fed’s struggles to combat inflation and sluggish employment trends.
- Economic parallels between 2024 and 2008 raise concerns about a potential market downturn and the need for investor vigilance in navigating uncertain times.
But wait, there’s more dire news on the horizon! Leading analysts, including those from Stifel, warn of a potential downturn in the S&P 500, citing the Fed’s inability to combat inflation and the sluggish decline of the cyclical employment index. With the specter of a middle-quarters correction looming, the outlook for equities grows increasingly grim.
STIFEL: “The next 500 points for the S&P 500 are down. .. the Fed already harvested all the normal post-recession disinflation we would expect. As a result, the sustained 2% Core PCE inflation the Fed seeks is a pipe dream. .. we expect Fed rate cuts to be pushed back further,… pic.twitter.com/lt0wgYPhf3
— Carl Quintanilla (@carlquintanilla) May 12, 2024
The cyclical employment index continues to decline very slowly (slower than 07 cycle now) highlighting the extensive lag time and slowdown we still need to see in construction/mfg/retail. pic.twitter.com/G2Z1Qo2wcy
— Don Johnson (@DonMiami3) May 12, 2024