The best start to an August for the U.S. stock market in years might get even better, as soon as next week, if the forecast from Thomas Lee, founder of Fundstrat Global Advisors, is accurate.
Based on research from the Fundstrat team, the stock market will start to drive higher on Aug. 14, with the possibility of a 30% rally in store for equity markets over the course of the ensuing two weeks. “So if history is an analog, next week is the week we could see a monstrous rally in epicenter stocks.”
“Since 1920, every stock market decline >35% saw a symmetric price recovery. In other words, the faster the markets fall, the faster the markets recover, and the ratio is 2.5X. Given the speed of the 2020, this implied making new highs before the end of the Summer,” his team writes : Many have made the call that a rotation out of tech and into other areas of the market, such as industrials, consumer discretionary, financials, and energy, would soon take place. However getting the timing right has been the challenge.
OldTakesExposed you take these?
There were also a lot of intelligent people predicting a monstrous rally in the papers of August 1929. Not saying we are headed for Depression but these sorts of articles are stupid
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