This strategist absolutely nailed his pullback call for the S&P 500 in June. Here's what he sees now...
Canaccord Genuity strategist Tony Dwyer has been bullish on the U.S. stocks in recent years, predicting after rising more than 23% in 2019, the S&P 500 will reach 3,350 by the end of 2020, a more than 8.3% increase from Tuesday’s close.
He is once again predicting an S&P 500 retracement.
“The recent string of new all-time highs in the major equity indices have pushed our indicators further into the extreme overbought territory that led to the [pullback in June],” he added. Meanwhile, “Our trusty 14-week stochastic indicator is back to an extreme overbought level of 99 on a scale of 0 to 100,” Dwyer wrote.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Disney lifts Dow, S&P 500 to records while trade tensions cast shadowThe Dow Jones Industrial Average and the S&P 500 posted record closing highs on ...
Lire la suite »
Dow, S&P 500 notch record closes even as U.S.-China trade concerns dampen gainsU.S. stocks largely closed in positive territory Wednesday, though off session highs, after the Wall Street Journal reported that U.S.-China trade talks have...
Lire la suite »
S&P 500 ekes out gain after Trump trade remarksThe S&P 500 and Nasdaq up after Trump tells crowd at the Economic Club of New York that the U.S. is close to signing an initial trade deal with China
Lire la suite »
Jeremy Siegel: The S&P 500 will see at least a '10% pop' on US-China trade settlementThe Wharton School professor said the trade war is more important to the stock market than potential Federal Reserve decisions.
Lire la suite »
The S&P 500 could be set for another pullback before year-end amid 'euphoric positioning' from investors, RBC says | Markets InsiderThe S&P 500 index could be poised for another pullback before the end of year as valuations continue to rise, according to RBC Capital Markets. ...
Lire la suite »
The S&P 500 could be set for another pullback before year-end amid 'euphoric positioning' from investors, RBC says | Markets InsiderThe S&P 500 index could be poised for another pullback before the end of year as valuations continue to rise, according to RBC Capital Markets. ...
Lire la suite »