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Wells Fargo Says SPX Due For 10% Correction

This guy... Chris Harvey, Head of Equity Strategy at Wells Fargo said:

“In our view, equity downside will be driven by worsening economic conditions, a function of: aggressive monetary policy; potential capital/liquidity issues catalyzed by the bank crisis; and a consumer that is increasingly reliant upon credit to sustain spending,” Harvey and his team of strategists said in a note to clients Tuesday.

Predicts a price target of 3700 in the next three to six months. The near-term Fed pause is rally already reflected.


I have no idea anymore. I guess I'm a bear? Or bull? All I'm convincing myself of is that I have lost all knowledge on how to understand the market. Everything is a contradiction, every indicator is backwards. No idea anymore.

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