the U.S. Stock market and, in particular, the S&P 500, considered one of the most important indicators in the near future can expect “terrible times.” Such a prediction was made by CNBC analyst Jim Cramer.
the Financier believes that the coming days will be for S&P 500, and with it for the American market the moment of truth. Further developments will depend on whether the index can hold above the level of 3100 points, which he overcame at the end of June.
At the time of publication, the index value was equal to 3115,86 points. Kramer also refers to the opinion of the analyst portal FibonacciQueen.com Caroline Boroden, which has repeatedly talked about the other key level at 3720 points.
According to Borodin, if the index reaches this level, investors should prepare for a prolonged downturn, the results of which can be “terrible” for the entire us economy.
Analysts have dispersed in estimations of prospects relative to the S&P 500 and the market in General, allowing both scenario: a repeat of the recent rally (long-term stable growth) and the decline.
Recent months have been marked by the growth of the major U.S. stock indexes in spite of the difficult situation in the global and national economies on the background of the pandemic coronavirus. Some economists have explained the events that traders in transactions rely on “soulless” algorithms, not taking into account political, social, and epidemiological situation in particular region. But then, in mid-June, there was a decrease on the peak which amounted to 7 percent.