Carefully adopted economist Henrik Zeberg is revealing his outlook for shares and crypto for the approaching months.
The macro strategist tells his 139,600 followers on the social media platform X that he believes shares and crypto are gearing up for giant rallies which will endure till the top of the yr.
Zeberg factors to 2 narratives that he says bulls will latch on to justify the ascent.
“1. Blow off prime shouldn’t be over and carried out – but! Excessive rally forward in sure indices and crypto.
2. Sentiment will grow to be extraordinarily BULLISH.
3. I can be known as ‘Perma Bear’ as I name US market prime. Market prime very shut in exterior US.
4. Bulls will level to AI (synthetic intelligence) and Fed liquidity to clarify why markets can solely go UP.”
However whereas Zeberg believes that extra rallies are in sight for risk-on belongings, he predicts that each shares and crypto will implode as soon as the highest is in.
“Prime in US markets can be in Q3/This autumn 2024.
Recession units in This autumn 2024.
Quick decline in markets will start.”
The economist additionally says market members can be exuberant because the S&P 500 ascends to better heights.
“Individuals will grow to be overly BULLISH – proper as we method the highest. This bullish sentiment will develop larger because the S&P 500 heads in direction of 6,150 [points]. And speak of AI and liquidity – because the the explanation why markets solely can go UP – will dominate…”
At time of writing, the S&P 500 is buying and selling at 5,221 factors.
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