How high will the last leg of the bull market go?
The first target adds the 240-point September pullback to the previous high of 5,667, aiming for 5,907—just 3.5% above Friday’s close.
The second target, based on a 481-point August pullback, points to a longer-term goal of 6,148, about 8% higher than the current level.
Only time will tell.
https://x.com/kurtsaltrichter/status/1840114259369341029
...IMO it looks like after the back to back boosts to the market from the Fed's 50bps and the China stimulus, the market is due for a pullback at least and could be worse if Oct 4 NFP increases concerns over recession (again) - the narrative could switch quickly from rapid& hastened Fed cuts to promote soft landing to rapid & hastened Fed cuts because recession could be underway.
....as Stanley Drunkenmiller said, don't invest based on the present but what is 18 months ahead, anything from now until the forthcoming implosion is merely a trading play. If you want to play IMO, prepared to be nimble, which means a preparedness to cut losses without procrastination. It is easy to mistake an 'event' for another 'noise' because we have seen it too many times.
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