Need to Know: Top strategist expects market correction; others seek buyable dip
That describes the S&P 500 right now, says Peter Schultz, chief strategist at the Winning Secret newsletter, who believes the 2,800 resistance level that the market has pushed against roughly four times since October needs a real catalyst to break. “And the one everyone’s been looking for — a trade deal with China — might be a while in coming.”
“We’ve already had a pretty strong zig. I’m expecting before long a zag,” he said, calling the one-year Treasury bond the best “risk-free asset” going right now, as he bets on a recession. We’ll close out with some more wisdom, on another topic, from Gundlach, who is among those critical of the so-called Modern Monetary Theory — using the Fed’s balance sheet to pay for social-safety-net programs — calling it a “crackpot” idea.
The Guardian front page, Wednesday 13 March 2019: Another huge defeat for May. And just 16 days until Brexit pic.twitter.com/fM1zuXRsA2 The buzz While the U.S. insists the Boeing BA, -6.15% 737 Max 8 is safe — Transportation Secretary Elaine Chao flew on one Tuesday — the nation’s pilots may not agree. Several lodged complaints about the jet, with one pilot describing an “almost criminally insufficient” flight manual. Ethiopian Airline’s CEO told CNN that the pilot had “flight-control problems,” before his plane crashed.
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