AFMC - The MSI Still Supports An August Top In The Market
2024-07-08 22:32:12 ET
Summary
- Sentiment indicators strongly support our January forecast of an August top in the market.
- Investor sentiment drives stock prices more than economic data.
- The Master Sentiment Indicator, and four other sentiment indicators, all show extreme levels of bullish sentiment, pointing to a possible significant market correction.
In a Seeking Alpha article six months ago, we forecast an August top for this market. It was based on the average lifetime of recent bull markets. We are now a little less than two months away, and our sentiment indicators have grown to strongly support this forecast. If correct, it would mark the end of the two-year bull market and the beginning of a significant correction. It would also prompt the question: what type of market correction will it be?...
The MSI Still Supports An August Top In The Market