Milton Berg, renowned market technician known to viewers for his contrarian bullish call in January of 2023, returns to Forward Guidance with a far less rosy outlook. As of recording on February 28, 2024, Berg is decidedly bearish in the face of a stupendous stock market rally. He sees signs of an exhaustive peak and expects a decline, which could either be a corrective move in the middle of a bull market or the beginning of a true bear market.
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Timestamps:
(00:00) Introduction
(00:15) Milton's Buy Signals Have Continued To Appear In The Stock Market
(06:11) This Bull Market Is Unique In Its Strength, And It Its Weakness
(10:53) Indicators That Suggest A Stock Market Top In February 2024
(15:20) Why Milton Is Leaning Bearish
(24:05) Federal Reserve Interest Rate Cuts And Earnings Cycle (Milton Disagrees That These Are Bullish Factors)
(30:55) There's Lots Of Momentum In This Market - But It's Not Bullish Momentum
(35:28) Banking Index Is Behaving Strangely
(40:37) Evidence This Could Be A Blow-Off Top
(49:33) VanEck Ad
(50:16) This Is Not A Healthy Market
(52:34) The Permabears Could Finally Be Right
(53:13) Speculation In Blue Chip Companies Is Extreme (Although Speculation In Unprofitable Companies Is Not)
(01:00:09) Mind The GAP!
(01:05:29) Portrait Of A Sick Market
(01:07:22) New Highs In Europe And Japan - Milton Isn't Impressed!
(01:10:48) China
(01:12:37) Cycle Dates
(01:16:54) Climax Top In SuperMicro (SMCI) - Milton Was Long But Has Flipped Short
(01:21:31) If There's A New Bear Market In 2024, It Will Probably Cause A Recession (Unlike In 2022)
(01:26:35) Milton's Long-Only Portfolio
(01:28:26) Milton's Short List Of Overextended Stocks (Including Nvidia)
(01:33:12) Would A Forthcoming Sell-off Be A Corrective Move During a Bull Market Or The Beginning Of A New Bear Market?
(01:35:29) Alibaba, Paypal, and Berkshire Hathaway
(01:36:43) A Review Of The Buy And Sell Signals
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
Portrait Of A Sick Market | Milton Berg On How The Stock Market’s Exhaustive Rally Is Reminiscent of 2000, 1968, and 1929 | Forward Guidance podcast - Listen or read transcript on Metacast
