QQQ - The Granddaddy Of Market Sentiment Has Entered The Red Zone
2024-06-03 11:04:12 ET
Summary
- The granddaddy sentiment indicator - Investors Intelligence - suggests a major stock market correction is coming later this year.
- The indicator shows that there are currently far too many bullish newsletter writers, indicating extreme bullish sentiment.
- We believe it will begin later this year, with a decline of 15% or more in the S&P 500, and last through most of 2025.
- A balanced portfolio of stocks, long-term AAA bonds and cash should neutralize most of the risk and also expose one to price gains if this forecast proves early or incorrect.
...
The Granddaddy Of Market Sentiment Has Entered The Red Zone