Fundstrat Sees Global Stocks Rising for Next Six Months, Says Pullbacks Are Buying Opportunities
Summary
- Fundstrat said global equities have a high chance of remaining strong over the next six months.
- Mark Newton said dollar weakness would act as a tailwind for emerging-market stocks.
- Newton said a correction that could emerge from mid- to late October through November may offer the best buying opportunity of this cycle.
Forecast Trend Report by Period
Fundstrat expects global equities to remain strong over the next six months.
BlockBeats reported on October 14 that Mark Newton, Fundstrat’s head of technical strategy, said in a recent interview that global stock markets have a high chance of advancing for roughly six months from next month through April next year. He added that equities could move sideways in the near term before entering a stronger upswing. A weaker dollar would also act as a tailwind for emerging-market stocks.
Newton also said a short-term correction could be a buying opportunity. “This is not the time to panic,” he said. “Any pullback that emerges from mid- to late October through November could offer the best buying opportunity of this cycle.”
Fundstrat is an investment advisory firm co-founded by Tom Lee, chairman of BitMine, the world’s largest Ethereum treasury company.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul