November 14, 2022 – The good: In the short-term, we see extremely high bearish sentiment on top of improving technical breadth measures, which typically mark a bottom in the stock market. The bad: This is probably a temporary rally and we could be facing a major debt ceiling standoff next year. The ugly: Recession probability models are flashing red, the housing market is likely to decline further, and the Rule of 20 (market valuations + inflation) argue we are still far from a major market bottom. Today's host is Financial Sense Wealth Management CIO Chris Puplava.
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