Never-Ending Stock Market Churn Keeps Pushing Bottom Targets Lower
- Investors in Deutsche Bank poll see S&P 500 falling to 3,300
- Strategas model of bear-market bottom flags warning signals
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Week after week of on-the-fly calculations about the intensity of inflation and the likelihood of a recession are preventing markets from finding equilibrium. The churn is spurring increasingly worse forecasts for when and where the volatility will cease.
Turbulence remained the rule Tuesday. After sinking more than 2% earlier in the session, the S&P 500 erased its decline to eke out a small gain. It’s the fourth time in 2022 that the index reversed an intraday drop of that magnitude, more than in any year since 2009.