By Chris Haley
This year and early next is going to be a relatively flat time for equities. My Target for the S+P is 1950 at year end, but we'll be going up and down in between. This April correction will take us down to near 1700, but in May I guess we'll be near 1900, then back down June, up in July, Down In Aug/Sept then Oct to year end a rally to take us to 1950. Early next year we'll rally over 2,000, only for a fed funds increase pull back to 1850 by the summer and so we'll have gone nowhere for 18 months, but it's a monthly traders dream! Expect after Summer 2015 that the US economy and earnings will pick up for a big rally 2015-2017 to S+P 3,000.
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Regards.
Chris Haley is a full time investor with thirty years experience and used to making around 50% a year in equity capital returns, having worked previously for financial investment firms JP Morgan's Save and Proper in the UK and Royal Insurance.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
Posted-In: Markets Trading Ideas
Originally posted here...
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