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.
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