As predicted by the From 1k to 1 Million team in our last update the S&P bounced back to a level around 2,050. In March the S&P 500 bounced by 6.6%, the Dow Jones gained 7.1% and the Nasdaq advanced 6.9%. This was a technical bounce like you typically see after a quick decline. Oil also bounced which is good for markets nowadays. Besides that the FED made some quite dovish comments about the outlook. FED chairman Yellen hinted on less interest raises than expected this year and even made some hints of another QE if the economy falls back.
Last bounce? See below
At the start of March we predicted a dead cat bounce to around 1950 points. We told you no new all time high was expected. Last week the S&P 500 hit 1975 points, so no new all time high. We believe this will be the top of the dead cat bounce. We believe the market won’t go higher than the 1975 points and will go down to around 1800 to test the August bottom again. This is normal in financial markets. This could be a process of a few months but can also be quicker. Fundamentally and technically things are not looking good at the moment. We expect that this time the bottom will not hold, so this could be an even bigger win for all members of Stock Market Crash Future Signals than the last time.
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