Tom McClellan: These Decades-Long Correlations All Predict A Major Market Sell-Off Later This Year
Update: 2024-05-26
Description
Stocks markets have had a massive run since November of last year and all the major indices -- the S&P 500, the Dow and the NASDAQ - have hit all-time highs this week.
US GDP growth for the current quarter is currently predicted to be 3.6%, global economic growth as measured by PMIs has turned positive for the first time in 2 years, the official unemployment rate remains below 4%, the most important stock to the markets -- Nvidia -- just beat expectations on earnings & revenues...
So it's unsurprising the bulls are feeling large & in charge right now. Talk of hitting S&P 6000 later this year is getting louder.
Is that likely?
In heady times like these, turning to the data & navigating by what it's telling us is often highly useful. Which is why we're fortunate to have one of the best technical analysts in the industry, Tom McClellan, joining us today to share his latest interpretation of the current market action.
Tom is watching several key indicators that, if their decades-long correlation with the stock market continues to hold, suggest a material correction is coming in the second half of this year.
WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com
#stockmarketcorrection #stockcrash #oilprice
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Support this podcast: https://podcasters.spotify.com/pod/show/thoughtful-money/support
US GDP growth for the current quarter is currently predicted to be 3.6%, global economic growth as measured by PMIs has turned positive for the first time in 2 years, the official unemployment rate remains below 4%, the most important stock to the markets -- Nvidia -- just beat expectations on earnings & revenues...
So it's unsurprising the bulls are feeling large & in charge right now. Talk of hitting S&P 6000 later this year is getting louder.
Is that likely?
In heady times like these, turning to the data & navigating by what it's telling us is often highly useful. Which is why we're fortunate to have one of the best technical analysts in the industry, Tom McClellan, joining us today to share his latest interpretation of the current market action.
Tom is watching several key indicators that, if their decades-long correlation with the stock market continues to hold, suggest a material correction is coming in the second half of this year.
WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com
#stockmarketcorrection #stockcrash #oilprice
---
Support this podcast: https://podcasters.spotify.com/pod/show/thoughtful-money/support
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