Wells Fargo says investors should expect a 10% stock market correction soon

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'We are within spitting distance of our 4200 [S&P 500] target and now shifting direction,' wrote Christopher Harvey.

A swift sell-off is ahead once investors realize the banking crisis will tip the economy into a recession, according to Wells Fargo. "We are within spitting distance of our 4200 [S & P 500] target and now shifting direction," wrote Christopher Harvey, head of equity strategy at Wells Fargo Securities, in a note to clients Tuesday. "Expect a 10% correction in the next 3-6 mos.

readers can see all the other major Wall Street firms' S & P predictions by going to our strategist survey , which is updated regularly. —CNBC's Michael Bloom contributed to this report

 

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You should be holding your talking head analysts to some level of accountability. I don’t expect anyone to know the future, but if you have any integrity your follow up question next interview should start with, ‘in our last interview you said 10% market correction…”

Did more evidence turn up?

See if the next 3 trading days for the $SPX is 'soon' enough. KenisonCountingNumbers Precision Market Timing daily TradingSignals is ALWAYS FREE brucekenison. Fintech fintwit fintechnews FinTwitt fint TechnicalAnalysis CFA CMT CTA CPA CFP Traders Investors

Wells - Now there's a bank that's earned our trust - NOT !!! Worst bank in the galaxy...

Who knows but the one thing I am sure of is I dont trust anything Wells Fargo says.

Yes their own Sock will be the downturn. Wells Fargo got a lot of $$$ to owe the govt

you mean like the last 10 BMR's after they topped out

Wells Fargo is a trusted institution 😉

Wouldn't trust Wells Fargo to feed my cat

does its best to predict gloom and doom for investors. It's almost as if that's their hope and goal. 🤔

I think everyone that’s bearish on the markets have already sold and positioned themselves for the most widely called recession in history. Not sure there are enough sellers left to support a bear market. Be contrarian.

PutinsBitchBoy Pay the man $1 million dollarz for his bold, analytically sound contraraian view

Spelled 20% funny

At some point this year, it will rain.

dont think so

Definitely past due for a correction. 10% sounds a bit overdone. 😇

just amazing how many of these called 'pros' have been so wrong and are now doubling down

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