Graham Summers Weekly Market Forecast (White Swan Now, Black Swan Later)

Stocks are up this morning.

The media believes this has something to do with a “relief rally” regarding the fact that conflict in Syria didn’t lead to WWIII over the weekend.

It doesn’t. The markets knew Syria wouldn’t lead to WWIII last week. If we were heading into WWIII why would stocks finish UP over 2% on the week?

 

In the larger picture, as I’ve been telling clients for the last three weeks, we are moving into a MAJOR “risk on” move for the financial markets.

The  S&P 500 broke above critical resistance (blue line) late last week. We are now set for a massive summer rally that will see stocks go to new all-time highs.

 

We often talk about Black Swans, but the markets are currently prepping for a WHITE Swan. That Swan is a massive rally into a Blow Off Top that is commencing now.

At that point, we'll be ready to begin the next Crisis.

If you're not actively taking steps to prepare for what's coming, you need to start NOW.

On that note, we are putting together an Executive Summary outlining all of these issues as well as what's coming down the pike when the Everything Bubble bursts.

It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here:

https://phoenixcapitalmarketing.com/TEB.html

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 

Comments

JLarryL Mon, 04/16/2018 - 14:35 Permalink

Actually, The Dow is stuck in its descending triangle and hasn't closed outside it yet. The resistance indicated for the SPX is not even there; the SPX has its own descending triangle. IWM checking out a real resistance point today, from February 27. For QQQ, 166, then 170 are interesting.

jmack JLarryL Mon, 04/16/2018 - 18:31 Permalink

     Exactly.    The "breakout" has not happened yet.  This market is still primed to go lower,    its still in battle mode, or wait and see mode, or however you wish to characterize it.    It could stay this way thru some critical earnings, give fake breakouts on one announcement or another and then fade into august-october.    But generally earnings give the markets some level of optimism, and then selling or doldrums come in after, in my observations the last few years.     Let the real breakout happen, take the position on the retest of old support and resistance as new resistance and support, and retire wealthy.   

In reply to by JLarryL

Anonymous_Bene… Mon, 04/16/2018 - 16:27 Permalink

When I want to know what way the market winds are blowing I just look at Graham and Gartman and know with full confidence that the exact opposite of what they say is what will come to pass.

morethan1 Mon, 04/16/2018 - 16:52 Permalink

Got out at S&P 1250 "thanks" to just discovering ZH! I'm STAYING out. So GUARANTEEING ALL TIME new highs! Hopefully I'll live long enough to actually see honesty return to this society....