With the bond market’s prediction via its bond curve inversion looking like “a bunch of old fooey”, the question has to be: Are the signs aligning that will help this stock market rally keep going? I told you on Saturday in my weekend Switzer Report how one US market expert has upgraded his target number for the S&P 500 — but he’s not alone.
Tom Lee of Fundstrat Global Advisors now expects the US market index, which is now at 2945.6 to beat 3125 this year. That’s a 6% gain from here and that would be on top of the 17% gain that the Yanks’ stock market has already put on.
This scenario would be great for our market, which needs positive momentum after the May 18 election. Our market has been held back by APRA’s excessive crackdown on lending, which regulators are working on to make less restrictive.