“[T]here are reasons to be cautious.”
[Relays warnings by Sam Stovall at S&P, Andrew Garthwaite at Credit Suisse, and David Rosenberg at Gluskin Sheff.]
“[U]nder Presidents Ronald Reagan, George H.W. Bush and George W. Bush, the Fed was tightening policy early in their first terms or had just completed tightening campaigns, resulting in economic weakness and stock market declines.
“By this metric alone, stocks look set for a difficult path under Trump. …
“Put simply: Unless Trump can convince Fed Chair Janet Yellen to ease up on the rate hikes — or replace her with someone more cooperative — the bull market could soon end.”
— Excerpt contributed by Jason Kelly
_____________________________________
| Z-val: | Anthony Mirhaydari |
| Via: | The Fiscal Times |
| Date: | 1/25/17 |
| Disposition: | Medium-Term Bearish |
| S&P 500 on 1/25/17: | 2298 |
| S&P 500 on 7/25/17: | 2477 |
| Change: | +7.8% |
| Judgment: | Wrong |
Z-val definition and more forecasts in The Z-val Zone.
