by Hephaestus4
David Hunter (a contrarian investor) said market can correct 10% then melt up about 38%, in which S&P 509 will reach 6,000 to 7,000. After Melt-up there will be 80% drop. Another possibility market just drop 50% to 80%. Either way the trend is down eventually. The Fed going to raise interest again and possibly again make me very nervous and doubt the 38% melt-up will happens.
There’s a ferocious debate about whether the U.S. will or won’t enter into a recession, but the global economy is already in one.
That’s the view of Dhaval Joshi, chief strategist of BCA Research’s Counterpoint. He says that for global purposes, a recession is less than 2% growth rather than outright deterioration. He points out that Oxford Economics’ nowcast is that the world economy is growing at a 1.2% rate, and also points out that China is growing around 5%, the U..S. less than 2% and Europe is flat-lining. Export heavy economies in Germany, Sweden and South Korea are struggling.
S&P 2019 vs 2023 🧐 pic.twitter.com/1V7uwGmvAD
— Financelot (@FinanceLancelot) July 17, 2023
Bear porn is still alive
M2 YoY chart someone should call the police pic.twitter.com/tYt1H7HGPY
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) July 17, 2023
This is the first cycle where the Fed has been raising rates, despite manufacturing PMI being in sharp contraction territory
A big policy mistake in the making pic.twitter.com/jxTNwqjJNH
— Game of Trades (@GameofTrades_) July 18, 2023