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Market Commentary

Animal Spirits

By Charles Payne, CEO & Principal Analyst
11/18/2024 12:57 PM

The market was poised to stumble this morning but over the weekend the doomsday crowd got excited.  Interestingly, one of the biggest doubters throughout this rally keeps coming around.

Mike Wilson, who had dug in against this rally, now suggests the S&P 500 could rally to 6,500 over the next twelve months.

Speaking of which, we saw animals’ spirits in the Housing Market. The index climbed to its higher level in seven months.

November HMI came in +3 against consensus of -1 and all components climbed. This is the kind of animal spirits I’m seeing everywhere.

Builder Confidence

Single Family Sales (Present)

49

+2

Single Family Sales (Next Six Months)

64

+7

Traffic of Prospective Buyers

32

+3

Housing Market Index

46

+3

Comments
there seem to be lots of "the crash is coming" forecasters in my tests and emails.. are they Chicken Littles, seeing the truth or just trying to sell another "program"?

Phil Atwood on 11/18/2024 1:38:48 PM
Don’t let the talking head suggest retail is too giddy when it's Wall Street playing catch up. Lots of firms are releasing the 2025 outlook, and none are saying to sell.

Karina Hernandez on 11/22/2024 5:05:32 PM
 

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