By Graham Summers, MBA
On December 20th 2023, I predicted that stocks would hit new all-time highs before February 2024. Despite all the drama in Washington as well as the geopolitical risk in the world, stocks are within spitting distance of doing this… and we’re only halfway through January.
The S&P 500 bounced hard off of support at 4,700. If the index closes this week even marginally higher, it will be at new all-time highs.
This is not our first accurate prediction for stocks.
Throughout September and October of 2023, we warned clients that the S&P 500 was due for a pull back down to the 4,100s. Time and again, we warned our readers not to buy into the rally and to preserve their capital for an incredible buying opportunity that would soon hit.
And hit it did! And our readers “backed up the truck.”
Then, on November 2, when the S&P 500 was still at 4,200, we told clients to buy aggressively because the S&P 500 was going to 4,600 before year end. Remember, the S&P 500 had only just bottomed at 4,100 and we were predicting a 400 point move to hit in the span of eight weeks. So this was an EXTREMELY aggressive forecast. But our research backed it up and we trust our work!
The market then rallied to 4,600 in just four weeks! Those clients who followed our recommendation and loaded up on stocks at 4,100 made an absolute killing!
So, in the last seven months, we’ve predicted:
1) The S&P 500 to decline to 4,100s (when it was at 4,500).
2) The S&P 500 to rally from the 4,100s to 4,600 (when it was at 4,200).
3) The S&P 500 to hit new all-time highs before February (when it was at 4,600).
As I keep stating, you CAN outperform the overall market, but it takes a lot of work and insight!
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