Closely followed economist Henrik Zeberg is revealing his outlook for stocks and crypto for the coming months.
The macro strategist tells his 139,600 followers on the social media platform X that he believes stocks and crypto are gearing up for big rallies that may endure until the end of the year.
Zeberg points to two narratives that he says bulls will latch on to justify the ascent.
“1. Blow off top is not over and done – yet! Extreme rally ahead in certain indices and crypto.
2. Sentiment will become extremely BULLISH.
3. I will be called ‘Perma Bear’ as I call US market top. Market top very close in outside US.
4. Bulls will point to AI (artificial intelligence) and Fed liquidity to explain why markets can only go UP.”
But while Zeberg believes that more rallies are in sight for risk-on assets, he predicts that both stocks and crypto will implode once the top is in.
“Top in US markets will be in Q3/Q4 2024.
Recession sets in Q4 2024.
Fast decline in markets will begin.”
The economist also says market participants will be exuberant as the S&P 500 ascends to greater heights.
“People will become overly BULLISH – right as we approach the top. This bullish sentiment will grow bigger as the S&P 500 heads towards 6,150 [points]. And talk of AI and liquidity – as the reasons why markets only can go UP – will dominate…”
At time of writing, the S&P 500 is trading at 5,221 points.
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