JP Morgan says the market is doing so well, it could hit its 2020 forecast this year

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J.P. Morgan believes the rally is here to stay and the market could reach the bank's 2020 target this year.

"Looking ahead, given improving trade rhetoric, the market could reach our 2020 midyear price target of 3,200 sooner ," said Dubravko Lakos-Bujas, the firm's chief U.S. equity strategist.

The fourth quarter is seasonally the strongest for equities, delivering 4% return on average historically, according to the bank.Positive signs on the U.S.-China trade talks prompted investors to dive into stocks again, and J.P. Morgan believes the rally is here to stay and the market could reach the bank's 2020 target eight months early.

"The upside should be supported by still very low net positioning across discretionary equity and macro hedge funds, as well as systematic approaches," Lakos-Bujas said. "This catalyst would likely release pent-up demand from businesses and consumers. Even if existing tariffs remain in place and no new tariffs are announced, we would expect fundamentals to improve starting in 4Q," Lakos-Bujas said.

 

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Feels like a good time to give TriFound a call!

Jpmorgan has become the best contrarian indicator lately.

What about gold then? Down to its 2018 low?

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