David Hunter, the chief macro strategist at Contrarian Macro Advisors, thinks the inventory market may very well be on the verge of a “historic” rally.
In a brand new interview with journalist David Lin, Hunter outlines the catalysts he thinks will drive a leap in equities costs.
“A part of the melt-up shall be decrease charges. I feel we’ll get again to recognizing that inflation is trending down and transferring in direction of that 2% goal, in order that shall be obtained bullishly. I feel you will note earnings appear like they’re turning up, so that you’re going to see elevated incomes expectations over the course of the following six months and estimates for subsequent yr beginning to be hiked.”
The macroeconomic skilled additionally thinks a market reversal will pressure the entry of buyers who’ve been ready on the sidelines hoping for a extra important dip in inventory costs.
“So that you’ll get FOMO (concern of lacking out) kicking in. There’s loads of skepticism on the market: folks didn’t imagine the market when it moved from 3,500 to 4,600, then when it went again to 4,100 final October, they didn’t leap on there. They solely jumped on and started to leap on when it bought to new highs.”
The S&P 500 Index is buying and selling at 5,180.74 at time of writing, based on MarketWatch.
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