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.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
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 ...
Weiterlesen »
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...
Weiterlesen »
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
Weiterlesen »
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.
Weiterlesen »
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. ...
Weiterlesen »
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. ...
Weiterlesen »