Today I posted my two-hundred-and-sixth YouTube video
Today’s topic: 10% More to this Rally? The S&P rose above 4,000 Tuesday morning leading investors and analysts to forecast this rally climbing about 10% higher. Looking at a chart of the S&P 500 for a full year shows a clear bear market trend. Each high is lower than the previous high and the market has never seriously threatened to take out the December 2021 high. The current rally might be able to match the August peak of 4280 since investors are trying to take advantage of the rally before the year ends. But I don’t expect gains to stick. Looking forward, I still see high interest rates and a slowing economy and the Fed is unlikely to pivot away from its interest rate increases as investors hope. If you want to take advantage of the rally, by all means, go for it! Just remember, a 10% gain isn’t enough of a gain to justify betting the house.
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