Get Ready For "Much Larger Swings To The Downside" | Adam Kobeissi

The exuberant sentiment driving the market is fast dissipating

The top-level economic data gives a comforting sense the economy is “strong”.

And the media headlines tell us the consumer is "resilient".

But if you ask most Americans, they'll tell you they're struggling.

Last year, a Forbes Advisor survey revealed that nearly 70% of respondents either identified as living paycheck to paycheck (40%) or—even more concerning—reported that their income doesn’t even cover their standard expenses (29%).

So why is there such a big disconnect here?

For context, we're fortunate to talk today with Adam Kobeissi, publisher of the popular capital markets report, The Kobeissi Letter.

While Adam remains guardedly bullish in the near term, he thinks market risks are mounting and that investors need to prepare for "much larger swings to the downside" as the year progresses.

To learn his reasons why, click here or on the image below:

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Adam’s Notes: Adam Kobeissi (recorded 4.15.24)

Executive Summary:

• Despite the buoyant economic data on paper, the prevailing sentiment among a significant portion of the population is one of financial struggle. The economy is “running on momentum only” at this point, as consumers increasingly rely on their credit cards to survive.

• Speaking of momentum, there’s still enough positive momentum in the markets that — despite fresh concerns of stickier-than-expected inflation and geopolitical tensions — Adam K remains “cautiously bullish” in the short term. He does not recommend