Moraif: Dow Falling to 11,500 in 2016

“The fearless forecast for 2016 is that the Dow will hit 11,500. …

“The reason I see the Dow falling to 11,500 is because I see a recession coming in the United States. In fact, I think we already are in it; it just has not been made official. Bear markets come with recessions, and the average bear market is a drop of 37%.

“So what I am calling for is an average recession with the concomitant average bear market drop, and that gets us to 11,500.”

— Excerpt contributed by Jason Kelly

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Z-val: Ken Moraif
Via: Money Matters
Date: 1/2/16
Disposition: Long-Term Bearish
Dow Jones Industrial Average on 12/31/15: 17,425
Dow Jones Industrial Average on 12/30/16: TBD
Change: TBD
Judgment: TBD

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