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The crowd sentiment poll compiled by Ned Davis Research, a composite indicator that includes investor surveys, option data and asset analysis, recently fell to a level that had coincided with stock reversals in March 2020 and 2011. Morgan Stanley strategist Michael Wilson, who has been bearish on stocks throughout the year, this week said a "tradable tactical rally looks likely," with S&P 500 rising to as high as 4,000 "as good a guess as any." The index closed at 3,719.98 on Tuesday.
Bottom occurs 6 months before predicted federalreserve pivot. Notice the brevity of Fed Speak. The market was pummeled by orderflow coinciding with constant market berating Fed speak. It’s all about price of Oil in end. Ultimately inflation is good for equities.
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