RE:RE:RSI is now 46.00 most analysts are predicting newer lows and continued volatility in Q1 and Q2 followed by a "rip roaring rally" in the second half of the year. I'm going with the opposite. Rip roaring in the first half followed by a pullback and volatility in the second half. What did Warren Buffet say again?
Torontojay wrote:
88guy88 wrote: its running out of gas
The RSI is not going to time the bottom. It doesn't tell us when or if a recession will arrive or how many people will lose their jobs. We know the latter scenario will carry out due to comments made by both Jerome Powell and Tiff Macklem.
Keep in mind that during the dotcom crash there were a number of bear market rallies that fooled investors into thinking that a new bull market was on its way. We could see another January market rally but I would not be surprised if we see new lows in the markets in 2023.