Image Source: Pexels

Perhaps this CBS news reporter's prediction of a 'Black Swan Event' for 2024 is not so far off...either when it comes to U.S. national security, or in the stock markets...especially when one considers the reluctance of traders/investors to convincingly push markets above the December 2021 high for the past two years, as shown on the following monthly S&P 500 Index (SPX) chart.

Source: ZeroHedge

Perhaps such reluctance stems from Joe Biden's epic multiple failures as a leader since he became President in January of 2021, about which I've written extensively.

U.S. Perpetual Stock Market Cycles:

"Where Are We Now?"

CONCLUSIONS:

As I hypothesized in my 2023 Market Forecast, and, as long as Joe Biden remains President, I think we'll see more whipsaw, volatile moves occur in all markets in 2024, until such a 'Black Swan event' does occur...particularly since it's a presidential election year and each one has become more contentious and controversial.

Any push to new highs may be met with a swift retreat to new lows...possibly to retest 3200, or lower.

More By This Author: