The S&P 500 Index is approaching a significant milestone, with predictions suggesting it could reach the 5,000 mark, only 4.1% away from current levels. This level of market optimism was unexpected in the middle of 2022, yet the possibility is now on the horizon. Analyst Ed Yardeni forecasts the S&P 500's operating earnings per share (EPS) for 2024 and 2025 to be $270 and $300, respectively. However, there's a note of caution as 72 S&P 500 companies have issued negative EPS guidance for Q4 2023, surpassing both the 5-year and 10-year averages of 57 and 62, respectively. Super Micro Computer Inc. (SMCI) is also showing bullish signs with a potential weekly breakout, and predictions suggest its stock could reach $400 in the coming weeks if it surpasses new all-time highs. Wall Street analysts have varied predictions for the S&P 500 in 2024, with JP Morgan forecasting 4,200, Bank of America 5,000, Goldman Sachs and Deutsche Bank 5,100, and Morgan Stanley 4,500. Amidst this, there's a strategy to watch for a potential 7% decline after the S&P 500 potentially hits new highs around 4,850 to 4,860, which could be a signal for investors to start scaling shorts.
The $SPX will likely breach 4,800 convincingly this week or next to around 4,850ish maybe 4,860ish. All time highs headlines will be plastered on every news publications and that is EXACTLY when we start scaling the shorts. I am looking for a ~7% decline thereafter which will…
What will the S&P 500 $SPX do in 2024? Can you beat Wall Street analysts? JP Morgan prediction - 4200 Bank of America prediction - 5000 Goldman Sachs prediction - 5100 Morgan Stanley prediction - 4500 Deustche Bank prediction - 5100 Read this from our community member Tim…
$SMCI weekly breakout, expect to see $400 in coming weeks once it takes new ATHs out again.. 👇 https://t.co/QSwtIKHeYY
72 $SPX companies have issued negative EPS guidance for Q4 2023, which is above the 5-year average of 57 and above the 10-year average of 62 . #earnings, #earningsinsight, https://t.co/3FYBSvLpaV https://t.co/rOC7a0tsMO
Yardeni sees $SPX operating EPS for 2024 and 2025 at $270 and $300, respectively. @yardeni https://t.co/Zip45QHTPO
$SPX 5,000 is just 4.1% away from current levels. If someone asked you back in the middle of 2022 if we would see anywhere close to 5,000 within 18 months, you would think he is a crazy s.o.b. But here we are. Here we are…