https://www.fxstreet.com/analysis/wall-street-next-week-202006071602Wall Street next week
ANALYSIS | Published Jun 07, 2020 16:02 (+00:00)
1. Markets cannot go higher on valid fundamentals
We believe the short squeeze (soon) over and any good news MORE THAN built into markets. We also believe this is a time to be defensive rather than FOMO. Going forward economic activity caused by the pandemic should bottom out and a real recovery will happen, but one that is slow going and uneven. We see a U US economic recovery but stock markets NOT V, L or U but W.
There is very high risk in the market now until late Summer.
IT IS TIME TO PROTECT/EXIT especially above 3150 SPX.
POST SUMMER INVESTMENTS SHOULD BE TARGETED FOR A POST COVID-19 WORLD
Couple fundamental points for next wk
Comments
I rarely agree with forecasting, but the market activity this past month has been insane .... given everything that happened in the world/country, that the equity markets just kept exploding higher suggested something is broken. Short squeeze? Irrational exuberance? AI going nuts? I dunno.
I continue to be cautious. Not selling everything, but not buying much either right now.