“My technical signals suggest that the rise which brought the S&P 500 to the recent high of 2954 will come to an end in mid-May and give way to a 7-to-10 percent decline towards the 1/3 or 1/2
correction targets of 2750/2650 by mid–late September. This will be a simple correction after a 4½ month rise by these Indices. Not a Bear Market, but a simple and long-overdue correction. Not a Bear Market, but a cyclical correction within the current Secular Bull Market, similar to the one that occurred in late 2015/early 2016. Therefore, I expect (just as in early-2016) that another cyclical rise will commence after the mid–late September low, towards a targets of SPX 3300. I have no idea what political, financial or fundamental events (tariffs, taxes, Brexit, China , yield curve, etc.) would cause or be blamed for this correction. The forecast is simply based on my cyclical calendar. Obviously, some forecasters will speak of a “triple top” or a “bear cross” (or maybe the “end of the world?”) along the way, and declare the correction as a sign of the beginning of an overdue Bear Market. Come September they will miss another great buying opportunity!” (7-May-19) Ron Meisels & Dave Tippin,Phases & Cycles, Montreal, QC, Canada www.phasescycles.com
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