Earlier this year, he said the S&P would hit 5500…now only 4800? (It’s currently at 3941)
This guy is smoking some serious dope. I have access to a chart from January 2022 that projected where the S&P would be in the May 2022 time frame. In Jan, I thought, yea, but can it really get that bad? Well, the chart was lets say it was within 50 points of 3900.
Hindsight is 20-20. Very hard to invest this way. Very dangerous. Charts not always right. Still, it just happened to be a good chart huh? One of the latest charts I’ve seen suggests that S&P trades in a channel for a while. That makes a hell of a lot more sense than a sustained 22% rise and off to the races.
Stagflation, welcome back Carter!! Please be very careful out there.
To be fair, that was before Russia invaded Ukraine.
I think it will hit 4200....before it goes to 1800... or 1600. That is a normal price occurrence that happens as well.
I’m thinking we’ll see a “new high” in about 4-6 years.