Stock-market bull warns investors not to ‘chase the rally’ as ‘epic battle’ between Fed and coronavirus unfolds

Canaccord Genuity chief market strategist Tony Dwyer is no stranger to bullish stock-market calls, but after a remarkable run for U.S. stocks over the past few weeks, he is now warning investors of a pullback ahead.

Coming into 2020, Dwyer had one of the more bullish outlooks on Wall Street, with a year-end target for the S&P 500 index of 3,440, announced in early December. — Canaccord Genuity’s Tony Dwyer Dwyer believes that traders will be deluged with ugly economic reports that reflect the magnitude of the economic pain felt by workers and businesses as efforts to fight coronavirus bring the U.S. economy to a standstill. “We don’t yet have an idea of the extent of the damage,” he said.

And while markets have rallied in recent weeks as the Federal Reserve has unveiled plans to backstop credit market and lend to businesses and state and local governments to the tune of trillions of dollars, it remains to be seen whether these programs — or new government spending aimed at supporting the jobless and small businesses — are enough to get the U.S. economy quickly back on its feet.

We still in the frustration part. I’m guessing he pulled his retest call

I don’t remember him saying to step in and try to buy the panic stage. This is why I do try and step in. If you solely stayed out to only buy a retest, you may of missed 30% rally off lows

Main Street America experiences massive loss of income,feels pain & uncertainty, and gets a tiny Congress stimulus (basically a good’ol “addaboy,hang in there”). Wall Street America experiences massive wealth protection, feels euphoria & confidence, and gets a Huge Fed Bailout.

1st this is NOT a typical “bear market.(Panic) 2nd the market has not reflected the working class economy for decades (faux relief) 3rd the global pandemic is making money for Insiders (rally) 4th Taxpayers bail out banks & corporation already paying net $ 0% (frustration)

Gold is terribly dealing with bears. I doubt they even venture it

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market bulls hope that the S&P 500 will rally further even as corporate earnings craterAs the coronavirus epidemic gathers steam in many parts of the U.S., equity investors appear confident its damage to the economy will be contained, but analysts warn that as large corporations provide more information about COVID-19’s impact on earnings recent gains could be in danger. Saving this for the next time some MAGA brags about the stock market like it means something
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock market crash: Coronavirus may trigger rare post-WWII downturn - Business InsiderKeep some powder dry': A Wall Street chief strategist explains why stocks could repeat an ugly crash that's only occurred once since World War II 'Since WWI'... But we're still here....so Armageddon didn't happen then did it?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Looming Earnings Season Offers Next Test for Rebounding Stock MarketThe kickoff of earnings season this week will give investors a first glimpse of the impact of the coronavirus shutdown on corporate profits—and potentially clues about the outlook for the rest of the year. Fake News The desire to increase corporate profit year after year is the reason things like price gouging on insulin is allowed. Wall Street is whistling past the graveyard, literally.
Source: WSJ - 🏆 98. / 63 Read more »