So they were correct, as I said they been spot on pretty much so far. Now for some more purely Academic fun, here are the targets that they have for Sept/Oct which is part 1 of their call. First target on this pullback takes us to around 5100 on the S&P which will be followed by a back test of the 5660 area (I am keeping this simple) which will then be followed by a flash crash over Sept/Oct ending with the S&P filling all the gaps down to 4100 area.
Yes before the election. Part 2 which I will only discuss if part 1 comes true ends with the S&P at 2800 end of this year or beginning of next year depending on election result. That is based on a Trump win, Harris I assume would be worse, hence timing can be affected but not the target. Now note this is purely for some academic fun, I know we are going to see a big crash but I don't know how it will happen. This isn't my call for the record.
I will however say and remind bulls history says when we cut interest rates heading into a recession the market crashes:
Rate cuts preceding a recession = market crash.
Reason is obvious as the only reason central banks ever cut rates before a recession has hit is if the global economy is going to hell in a hand basket, no other reason. Hint the US faking over 1 million jobs meaning well over 30 percent of all jobs "created" in the US over the last 12 months were fake, bit of a giveaway. So what is the real unemployment rate? I am waiting for revisions which they will hold off on as long as possible so retail never see it coming.
NOTE: Lesson to the bulls careful what you wish, if we get interest cuts now ahead of a recession = crash. Can't say that enough it is what happens. So question, markets are forward looking right? Markets know what I mentioned above so retail are expecting a crash after the rate cuts like before (plenty of time to get out?). Now remembering that social media has changed the way we view information this could be a "this time is different".
In that what would happen since the markets know this is the case if they decided to crash before the rate cuts? Hence the academic fun we are having above that I have mentioned? Other thing most bulls think we can spend our way out but no one left to buy the debt anymore Western countries all going broke together (isn't it nice being part of community hehehe). Rest of the world systematically turning its back on us.
Anyway remember the above targets are not my own this is purely an academic exercise and some fun for the bears late at night. I agree with the targets its just the timeframe I have issues with. But his accuracy has been extraordinary so will be fun to see how they go. Note for the record personally, I am hoping we see a interest rate cut this month in the US and I prefer a 50 point cut. If a bear like me is cheering for it what does that tell you bulls:
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