Wall Street is betting that once the midterm elections are over, the bad news will be behind us and U.S. stocks and BTC will rebound.
BTIG strategist Krinsky poured cold water on that idea:
You’ve got it backwards. The S&P 500 could fall toward 7,300.
His logic is deeply ironic:
Historically, stocks rally after elections because they’ve already fallen enough beforehand.
But this year, the S&P 500’s biggest drop has been just 4.5%.
It’s barely fallen—so where’s the room for a rebound?
The midterm elections are just 8 days away!
BTIG strategist Krinsky poured cold water on that idea:
You’ve got it backwards. The S&P 500 could fall toward 7,300.
His logic is deeply ironic:
Historically, stocks rally after elections because they’ve already fallen enough beforehand.
But this year, the S&P 500’s biggest drop has been just 4.5%.
It’s barely fallen—so where’s the room for a rebound?
The midterm elections are just 8 days away!