MacroVoices #433 David Rosenberg: Calling The FED’s Bluff
Macro Voices
Short-term Analysis on Crude Oil and S&P 500
The speaker predicts a short-term rally in crude oil prices due to constructive price action and geopolitical uncertainty. They suggest that if the market stays above $78 with corrections limited to $2-$3, there could be a retest of the high around $86-$87 in July. On the other hand, for the S&P 500, the analysis focuses on a potential push to the upside influenced by seasonality, historical trends, and the parabolic phase of the rise suggesting a run further to the upside into July followed by a flat segment into the election time period.
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