Market indicators and cyclical signals we monitor suggest all the pieces are in place for this bull market to end
Bull market to end in the weeks or months ahead: Tyler Richey Quoted in Business Insider
All the pieces are in place for this bull market to end’: A technical strategist who called the S&P 500’s surge to 6,000 warns that stocks are a negative catalyst away from a 20% drop
Tyler Richey laid out an argument for why the S&P 500 could climb all the way to 6,000. Investor sentiment was bullish but not excessively so.
“Looking ahead, the collection of market indicators and cyclical signals we monitor suggest all the pieces are in place for this bull market to end in the weeks or months ahead and for a cyclical bear market to begin,” Richey said in an email, adding: “There is nothing in the current fundamental backdrop that suggests a bear market in stocks is a sure thing or even likely for that matter.”
“Weekly RSI failing to ‘confirm’ the new highs in the S&P 500 is a dynamic we have seen leading up to every major market pullback in modern market history, including the tech bubble bursting and the GFC recession,” he said in an email, referencing the 2000 and 2008 stock market crashes.
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