SPX I am reducing my 2022 forecast to reflect Fed policy
continuing on the path to raise rates and reduce its balance sheet.
Also in my calculation are recessionary signals, recent
layoffs, persistent inflation, reduced investments/project
cancellations by big business.
My previous 2022 forecast range
was 3,800-4,800 which I included overshoots
(forced liquidity and/or momentum).
My revised 2022 forecast range is
now 3,500-4,500. The 3,500 area coincides with a 50%
fib retracement off the March 2020 lows. I've attached a view of
the chart from yesterday. Included in my range again are overshoots
(forced liquidity and/or momentum)
*credit to Matt for the chart attached
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SPX I am reducing my
Posted by fundamentalvalues on 24th of Jun 2022 at 09:19 am
SPX I am reducing my 2022 forecast to reflect Fed policy continuing on the path to raise rates and reduce its balance sheet. Also in my calculation are recessionary signals, recent layoffs, persistent inflation, reduced investments/project cancellations by big business.
My previous 2022 forecast range was 3,800-4,800 which I included overshoots (forced liquidity and/or momentum).
My revised 2022 forecast range is now 3,500-4,500. The 3,500 area coincides with a 50% fib retracement off the March 2020 lows. I've attached a view of the chart from yesterday. Included in my range again are overshoots (forced liquidity and/or momentum)
*credit to Matt for the chart attached