2024-07-25 10:22:10 ET
Summary
- The substantive correction in stock prices anticipated in recent analysis is now underway.
- Technical analysis suggests a corrective movement in major indices, with potential for a 17% decline.
- Big-cap tech in heading for a long term buying.
- Many smaller issues may be a long-term sell here.
I believe we are sitting at the cusp of literally world-changing forces and events. We will all be challenged to continually refresh our worldview to keep up with the pace of dislocation and transformation.
It's highly likely that, if the analytical methodologies relied upon in this report remain valid under current circumstances and continue to perform as they have in the past, there will be at least a substantive correction to stock prices sometime soon.
On the other hand, it is possible that new forces and a new paradigm has already taken hold, for which there are not yet proper economic and technical measures and methodologies. Big-cap tech could simply continue to explode in anticipation of radical, world-changing technologies that grow productivity and economic value generation exponentially into the future.
My overall take is that the economic and technological revolution will unfold, and faster than most expect, but that there will be some turbulence in the nearer term as measured by the prices of many stocks.
-- A Substantial Correction In Stock Prices Is Likely Coming Soon , June 17, 2024
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For further details see:
Is It Time To Turn Intermediate Term Bearish On Stocks?