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How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market SP500 Trend Expectations

Stock-Markets / Stock Market 2023 Nov 08, 2023 - 10:36 PM GMT

By: Nadeem_Walayat

Stock-Markets

The S&P is complying with trend forecast expectations that saw Friday's Quad Witching day end down 1.22% at 4450, where some hours before the open I commented -

"It's QUAD Witching DAY. There is a 90% probability for a STRONG DOWN DAY! Which given where the likes of Apple are perched just above support should act as a catalyst for the the sell off into October."

Whilst apparently someone called Cem Karson was eager to convince folks that a correction was 'almost impossible!'


The S&P continues to target sub 4200 by Mid October after having generated a kink in the MACD indicator.

And as per October 2022 analysis - .

Stock Market Analysis and Trend Forecast Oct 2022 to Dec 2023

S&P targets a trend to 4600 by Mid Summer 2023 before correcting to below 4100 by late October.

Since which several stock nuts have cracked most notable of which are ASML, KLAC, LRCX, AMD, AMAT...

Though the biggest nut of all Apple at $175 remains pending a break below $174 to target sub $160 which would deliver the S&P trend to sub 4200 with my central target of 4150. I plan to do most of my buying in the $160-$145 range.

Meanwhile there are some AI stocks such as Google that remain strong with no sign of any reversal which is why I have repeatedly warned not to get carried away with trimming Google. It's amazing to think that the MSM nothing burgers were busy convincing the retail crowd that Google at sub $90 was FINISHED due to Chat GPT killing search. Well six months on Google is near 60% higher! Whilst no longer cheap, nevertheless the metrics are strong i.e. EGF's and its fundamentals score. It is NOT easy to buy a stock when it is cheap, people want assurances that largely only be known with the benefit of hindsight and thus all one has is ones experience, metrics and rules that tell you what to do if one is able to tune out MSM and the BlogosFear, just look at the chart the cheaper Google got the less folks wanted to buy and even considered selling, go back and read the comments at the time.

At best GOOG could trade to sub $130 to target $120, but there is no sign of that happening yet.

This article is excerpted from my extensive analysis Quad Witching Cracks Stock Market Nuts that was first made available to Patrons who support my work. So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $5 per month, lock it in now at $5 as this will soon rise to $7 per month for new sign-ups. https://www.patreon.com/Nadeem_Walayat.

Also gain access to my most recent analysis -

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Here's what you get access to for just $5 per month -

※ Patrons Get FIRST access to all of my In-depth analysis and high probability Trend Forecasts, usually 2 full months before the rest of the world. Notified by Patreon by email as well as posted on this page and I will also send a short message in case the extensive email does not make it to your inbox.

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S&P

Targeting 4600 Mid Summer 2023 Top followed by correction to below 4150 into October 2023.

Again for immediate access to all my work do consider becoming a Patron by supporting my work for just $5 per month. https://www.patreon.com/Nadeem_Walayat lock it in before it rises to $7 per month for new signup's.

And ensure you are subscribed to my ALWAYS FREE newsletter for my next in-depth analysis.

Your trimmed the FOMO to buy the Dip analyst.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2023 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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