Weekly Stock Market Update & Forecast: September 21st, 2024
Another positive week with the Dow Jones up 670 points (+1.61%) the Nasdaq up 265 points (+1.5%)
Thus far, the stock market is performing perfectly as it continues to trend into our major projected time/price turning point.
Let me ask you something…..
Does anyone else remember the “Great Meltdown” that occurred in early August. When the Doom & Gloomers assured all of us that the top was in and the next great collapse is here. Surely enough, everyone freaked out with VIX quickly spiking to $55.
Yet, our email from August 1st (check your inbox) outlined a number of reasons as to why the top is not yet in and why we will still see a number of all time high on most major indices. And while that forecast was hard to believe then, it is now a reality.
And how quickly did we go from that to this…….
- Powell Delivered The Stock Market To The Promise Land. SPX to 6000 by Year End
- FED’s Rate Cut Might Spark A Melt-Up
- Rising Odds Of A Melt-Up
Fair enough, but where were these people predicting a melt-up in early August?
Perhaps they were loading up on overpriced put options or buying VIX above $50, but I digress.
Back to our overall stock market forecast that hasn’t changed (outside of a few slight adjustments) since we pin pointed the 2022 October bottom with precision of a surgeon.
That is, the stock market is looking for a major top. And we continue to maintain we have the exact parameters of when the said top will occur in both price and time.
Let’s just say that both bulls and bears will be caught with their pants down when the said top will arrive. Here’s why……
As the sentiment above suggests, most investors, including the bears, anticipate some sort of a melt-up. And I think most of them will be quite disappointed. At least according to our work and calculations.
Yet, when the said top does arrives, the subsequent move down will be a quick one. Likely catching both bulls and bears unprepared. The answer is, of course, is to know when the said top will arrive and the extent/timing of the subsequent move down.
Luckily, our calculations reveal both of those things. If you would like to find out when the stock market will top, in both price and time, and what will happen thereafter, please e-mail me at alex@4-dcapital.com