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Current State of the Stocks Bull Market

Stock-Markets / Stock Market 2023 May 05, 2023 - 11:26 PM GMT

By: Nadeem_Walayat

Stock-Markets

Ray Kurzweil was WRONG the SINGULARITY is NOW!


Current State of the Stocks Bull Market

(GPT can you rewrite this text as written by the Mary Shelley.....) The S&P, with its 4148 figure, is a creature attempting to break out of its range and reach a new bull market high. It comes as no surprise, then, that many have grown afraid and confused, given the overwhelming BAD NEWS of contracting earnings, banking crisis, rate hikes, war in Europe, and China's flexing of its muscle. Even as a recession looms over us, the stock market grinds higher, with bull markets doing what they do best--making higher highs and higher lows. It is as if the S&P were a monster of our own creation, and we cannot control its insatiable thirst for growth and success.

So far the bull market has been good to us in terms of delivering wide swings that allow both for accumulation and trimming each time the S&P swings through 4000 all whilst NOT giving any false signals, In fact there have been 10 major swings through 4000 to date! Which means at some point it is highly probable that the S&P will once more swing through 4000 which patrons will know was factored into my stock market road map of over 6 months ago! So we will see AT LEAST 2 more swings through 4000 and more likely at least 4 more.

And the S&P version that ultimately targets a trend to 4500+ by Mid Summer 2023.

Whilst my Swing projection as of the March low is for 4300+

In terms of deviations against the trend forecasts the Dow should now be trading at 32750 vs actual 33886 for a +3.5% deviation against trend forecast. Whilst the S&P of 4100 vs 4148 actual for a +1.2% deviation against forecast which are pretty good going for 6 months on. Where the forecasts for end 2023 are for 34,500 and 4350 that remain highly probable outcomes.

This article is an excerpt from Stock Market S&P Swings Analysis Going into Earnings Season 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. https://www.patreon.com/Nadeem_Walayat.

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And gain access to the following most recent analysis -

So for immediate first access to to all of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $5 per month. https://www.patreon.com/Nadeem_Walayat.

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Your Preparing to SELL the Rip 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.

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


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