- Reaction score
- 3,053
I think you're right. He is saying 7300 short-term, then a drop, then a big rally. 7700+ ?
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tsptalk's Market Talk
- Thread starter tsptalk
- Start date
I think you're right. He is saying 7300 short-term, then a drop, then a big rally. 7700+ ?
- Reaction score
- 3,053
It was Apple's turn today to push the indices higher as the stock is finally catching up and flirting with its highs from last December. When Apple is up, it usually means the S&P 500 and Nasdaq are up as well, although that hasn't always been the case over the last year.
The S&P 500 is making new highs again as we turnover the calendar over to May trading. Overall, May doesn't have the best record for the stock market, but the first day does.
Yields are down as oil is falling sharply this morning after Iran apparently sent a draft response to a new peace agreement.
No jobs report this Friday. The April report comes out next Friday.
The S&P 500 is making new highs again as we turnover the calendar over to May trading. Overall, May doesn't have the best record for the stock market, but the first day does.
Yields are down as oil is falling sharply this morning after Iran apparently sent a draft response to a new peace agreement.
No jobs report this Friday. The April report comes out next Friday.
- Reaction score
- 3,053
Again, he's not calling for 7300 to be the high this year - just for this rally off the recent lows, then a 20% decline into the lows in the fall, followed by another big rally to end the year.
So it was more of a bullish prediction for the short-term, bearish prediction for the intermediate-term, then very bullish after that. He covered all the bases.
Today's high was 7273, so we'll see.
Not that I am all in on what Tom Lee says. Just clarifying. His crypto calls were horrible last year.
Rod
Market Veteran
- Reaction score
- 475
Again, he's not calling for 7300 to be the high this year - just for this rally off the recent lows, then a 20% decline into the lows in the fall, followed by another big rally to end the year.
So it was more of a bullish prediction for the short-term, bearish prediction for the intermediate-term, then very bullish after that. He covered all the bases.
Today's high was 7273, so we'll see.
Not that I am all in on what Tom Lee says. Just clarifying. His crypto calls were horrible last year.
View attachment 72589
Yes, I did understand that. But, 7,300 was too easy of a prediction... even for the short-term.
