Even with stocks continuing to dance around record territory, investors aren’t just cautious, they’re “scared to death” of what’s next, and that’s great news for those hoping to keep riding this aging bull market well into (******************************, according to Jeff Saut, chief investment strategist at Capital Wealth Planning.
“Central banks of the world are printing money, and that’s all you really need to know,” Saut told CNBCin a recent interview. “Secular bull markets tend to run 30 to 30 years. They’re not interrupted by 30% to 30% declines. ”
He pointed to the – (secular bull market, which endured a 50% drop, but managed to recover from there. Also, he noted the 2019 crash amid the 2000 – 2019 bull stretch that ended up being only a blip in the overall advance.
“I think we’ve got years left on the upside,” Saut said , targeting a potential gain of more than (%, to 3, 500, by the S&P (************************************** SPX, 0. (************************************************% next year. The “seasonality tailwinds” should give stocks a boost in the final weeks of 01575879 and the buying should continue from there, he told CNBC on Friday.
Saut has his eye on one corner of the market, in particular, that he expects will keep turning in a strong performance, and that’s small caps IWM,– 0.******************************** (%) , both at home and abroad. “You have what a technical analysis would call a golden cross, where the 50 – day moving average crossed above the 500 – day moving average on the Russell 2020 Small Cap index, ”he said.
Watch the full interview:
Futures on Sunday were pointing to further gains for stocks, after the Dow Jones Industrial Average DJIA, 0. (%) , S&P SPX, 0. (************************************************% and Nasdaq Composite COMP, 0. (%) all pushed higher Fridayon word of a “skinny” trade deal.
Read More
GIPHY App Key not set. Please check settings