Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, sent to King World News an extremely important update on the stock market.
May 1 (King World News) – Michael Oliver, Founder of MSA Research: Our specified likely bounce 4800. The prior major peak for the S&P 500 was back in early 2022 at 4818. The low this month was 4835 on April 7th.
On monthly momentum we’ve plotted two multi-point uptrend structures through multiple lows and low monthly closes over the past two and a half years. On this chart, expect resistance up around the 3-mo. avg./zero line, which for May is 5680.
KING WORLD NEWS NOTE: US Stock Market May Be Close To A Dramatic Reversal
When we reference 3-qtr. avg. momentum (not shown here), it suggests resistance around 5728. So we have a fairly tight zone of agreement.
MSA suspects that a motive for buying, today especially, was investor anticipation that the negative GDP just might be enough to nudge the Fed into cutting soon. We shall see.
But as we’ve shown archivally in other reports, in prior major bear markets when the Fed starts cutting—and later cutting like crazy—it’s time to run, run, run (meaning, sell). At such shift points, the Fed is finally admitting a fear that they don’t want in the headlines.
This is a very important report where Oliver issued updates for gold and silver as well as the stock market. You must subscribe to Michael Oliver’s MSA Annual Service to get this special report as well as his stock picks which have dramatically outperformed the XAU. MSA also lists individual mining stocks in their reports that significantly outperform the HUI Gold Mining Index. To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research and gain access to their research and stock picks CLICK HERE.
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