Intently adopted economist Henrik Zeberg is revealing his outlook for shares and crypto for the approaching months.
The macro strategist tells his 139,600 followers on the social media platform X that he believes shares and crypto are gearing up for giant rallies that will endure till the top of the yr.
Zeberg factors to 2 narratives that he says bulls will latch on to justify the ascent.
“1. Blow off prime just isn’t over and performed – but! Excessive rally forward in sure indices and crypto.
2. Sentiment will grow to be extraordinarily BULLISH.
3. I might be referred to as ‘Perma Bear’ as I name US market prime. Market prime very shut in outdoors US.
4. Bulls will level to AI (synthetic intelligence) and Fed liquidity to clarify why markets can solely go UP.”
However whereas Zeberg believes that extra rallies are in sight for risk-on property, he predicts that each shares and crypto will implode as soon as the highest is in.
“Prime in US markets might be in Q3/This fall 2024.
Recession units in This fall 2024.
Quick decline in markets will start.”
The economist additionally says market contributors might be exuberant because the S&P 500 ascends to higher heights.
“People will become overly BULLISH – right as we approach the top. This bullish sentiment will grow bigger as the S&P 500 heads towards 6,150 [points]. And talk of AI and liquidity – as the reasons why markets only can go UP – will dominate…”
At time of writing, the S&P 500 is buying and selling at 5,221 factors.
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