Stocks peak this summer, then a U.S. recession: Fund Manager and Chartist

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Bull Market Buzzkill – Professional Fund Manager Julien Bittel believes that the current bull market is dangerously naive and not paying attention to imminent threats, including a clear pattern in the charts suggestive of a major market top and coming recession in 2020. Marketwatch –

Summer peak for stocks? Global appetite for stocks was souring on Thursday after China reported a staggering 15,152 new coronavirus cases due to different methodology, along with 254 deaths. That is nearly a 15-fold increase on Wednesday, when signs of a slowing in the spread triggered a rally on Wall Street and elsewhere. But some say it may also be good news as more reliable numbers may start to emerge and there has also been a shake-up of officials . Elsewhere, our call of the day focuses on brewing troubles for the U.S. economy. It comes from Julien Bittel, multi asset fund manager at Pictet Asset Management, who expects a recession by the fourth quarter of this year. And given a stock market correction has historically taken place in the months before, he has predicted an equity peak this summer. He sees a lot of similarities between what is happening now and the year 2000—the market peaked in the front half of the year, followed by a recession. Bittel has lots of charts to back up his case[…]

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