We believe an August downturn is coming. The question many investors may soon ask is NOT “How high is UP?” but “How low and how long?”.
While buying on dips has often been profitable in July, it will NO LONGER automatically be profitable for position traders i.e. August is here now
Going forward, economic activity caused by the pandemic will bottom out in the Third-Quarter GDP. This recovery, however, will be uneven & while a faster recovery than in the past, it will NOT be a super charged V. We see a U [or “skinny U”] US economic recovery but stock markets NOT V, L or U but W. Q4 US GDP will highly depend on US election outcome.
For Q3 we project 8-10+% market correction from Q2 2020 close.
RECOMMENDATION: 100% Protection until September.
2020 Market Close Target V1.2: SPX 3069 NASDAQ 9188
TRADING: Our approach is to enter early and exit early, lots of profit none-the-less.
We have a short basis for August: RISK 3300 SPX REWARD 2900-2850-
2020 Market Close/Trading Target V1.2: SPX 3069 NASDAQ 9188
For more details watch our Youtube post H2 2020 Market Update
Henry Weingarten – The Astrologers Fund, Inc. – 310 Lexington Avenue Suite 3G – New York, NY 10016
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