Taps Coogan – February 6th, 2024
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Darius Dale, Founder & CEO of 42 Macro, who has had a relatively good track record of forecasts for the last few years (correctly calling the 2022 bear market, the rally in the first half of 2023, but predicting a renewed bear market/recession in H2 2023 that didn’t happen), recently spoke with MacroVoices and is guiding for another strong year for investors in 2024:
The punchline of the chart-rich discussion is that Dale sees inflation pressures moderating, monetary policy easing, and the economy avoiding recession for long enough to sustain the market’s bullish momentum for the foreseeable future.
For what it’s worth, just prior to the S&P 500’s break to new all time highs, we said it’s time to put our ‘purgatory’ framework on hold and see what happens. Since then new all time highs have been made and, more often than not, when the market returns to new highs after a long hiatus (two years this time) it’s a bullish sign.