Friday, January 11, 2019

Quote of the Day: Morgan Stanley Sees A 'W' Coming...

Last Thursday I pointed to strong historical evidence that the deep correction low reached on Christmas Eve will ultimately be tested, creating your typical W pattern, as opposed the V pattern that's developed thus far. Morgan Stanley's chief strategist Mike Wilson, per below, thinks it's virtually assured. 

I'll say, again, that it's a distinct possibility, but my own experience and humility allows me to merely point to the possibility (the internals of late, by the way, have been quite bullish [supporting the case for the V pattern]). 

One thing Mr. Wilson and I definitely agree on is that, all else remaining as is, passing such a test (bouncing off of that low) would be hugely bullish:


No comments:

Post a Comment