Loading ...SPX Cycle update
Still have an upside SPX target into next spring of 4,400 to 4,600 based on Fed liquidity injections. The stock market may well be disconnected from the real economy but my cycle work shows it is headed much higher.
#SPX is consolidating in a small flag near its ATH. Failure to move past this resistance will likely cause it to test support on my chart. #QQQ #SPY #IWM #DIA pic.twitter.com/0TPIHtcj8f
— Surf City (@SurfCity_Cycles) November 13, 2020
I bet you are likely right and it’s good to know what the targets are, but as far as strategy, I call it a liquidity fueled bubble and I avoid those. I will look elsewhere for investable themes.
Thanks for sharing
That’s an excellent point, Sir Plunger!
Liquidity injections, when they come, may do “too little too late”, as they say.
And, given that we are at 3573 today, that’s not much “reward” even if we do get to 4400-4600 … how many nails will be bitten off?
There are 50+ PM stocks, mostly juniors, that can give those 30-35% returns in much less time than what S&P might labor to eventually.
So, again, who is the S&P reco for, Sir Surf City?
GL
Goldlearner, I have always maintained a balanced portfolio across many sectors as a form of risk management as I have found that putting all your eggs in one basket can be very hazardous to your financial health. The Stock Market bull is aging but it is still a bull market by any measure.
Thank you Surf City for the reminder on the diversification goal … I guess I’m a gold bug at heart 😉
On a lighter note, interesting to see a comment by Jim Rickards on a reply in the same tweet (to some wrist slap fine on the perma-PM-manipulator-banks):
https://twitter.com/SurfCity_Cycles/status/1327290114486112256?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1327290114486112256%7Ctwgr%5E&ref_url=https%3A%2F%2Fgoldtadise.com%2F
Jim Rickards
@JamesGRickards
·
21h
Did you actually buy one and take physical delivery or are you staring at some screen? Everyone talks a good game, but the number who actually transact are few and those who do know what I’m talking about.
GL