Bierman believes investors are too hopeful for a Fed pivot in 2023.The more inflation falls, the more hope investors have that a Federal Reserve pivot to dovish policy will come. Bureau of Labor Statistics reported that prices rose 6.5% year-over-year in DecemberBut according to Jeff Bierman, the chief market technician at TheoTrade who held the same position at TD Ameritrade between 2007-2015, investors shouldn't be betting on a shift to dovish policy in 2023.
"Inflation goes up like a volcano and comes down like a feather," Bierman said."It's going to take a while to reset inflation lower."This hawkish policy will eventually lead to a recession this year, Bierman said, a. An economic downturn will mean earnings estimates will have to come down, he said, which will be bad news for stocks.
But in addition to fundamentals, technical indicators are showing the market is due for another sell-off, according to Bierman. , also know as the VIX, which gauges expectations for volatility in the S&P 500. Bierman believes the S&P 500 will bottom out around 3,200-3,250. A bottom of 3,200 would represent 20% downside from the index's current level of 3,999. Bierman's recession call has become a somewhat consensus view on Wall Street.
Comments like that would explain why he is a 'former technical analyst.'
Ooops … did they realise it’s a total “Rodeo” out there … buckle up big boys
Well if he works for TD he's probably making more than enough money on commissions alone since they are the highest charging Commission brokerage company there is
“市场建立在完全自满的基础上”：一位前TD Ameritrade技术分析师表示，随着投资者开始意识到2023年美联储的政策不可能实现，今年股市将再下跌20%
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