S&P 500 Index: A 10% correction is ‘very plausible’ – Citibank
|The US indices, including the S&P 500, are primed for a 10% correction, Citigroup Inc.’s Tobias Levkovich, US equity strategist said in his latest client note.
Key quotes
“A 10% pullback in US shares seems very plausible.”
“Our current caution reflects several factors, including ebullient sentiment readings, stretched valuation levels and slipping earnings revision momentum.”
“With limited upside even to others’ bullish targets, a neutral stance is realistic.”
“The S&P 500 seen at 3,800 by the year-end.”
“Expect the index to trade in a 3,600 to 4,000 range” this year.
“While they can back off 10%-20%, we do not envision a 50%-plus collapse.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.