Posted 3/6/2024, 3:33:00 PM
Technical Analyst Warns S&P 500 Could Plunge 60%, Triggering Recession
- S&P 500 could plunge 60%, triggering a recession, warns veteran technical analyst Milton Berg
- Berg points to indicators like Fed rate hikes, speculative options trading, investor sentiment suggesting stocks are topping out
- Technical signs like yield curve inversion, pressure on industrial production point to imminent recession
- Current rally shows echoes of dangerous speculation seen before 1929 crash and 2000 tech bubble
- Berg revealing his portfolio is 30% short stocks like Nvidia and Netflix that look overextended