Markets Insider: Buying the S&P 500 Seems Like a 'Pretty Lousy Trade' Right Now - And a US Recession is Looming, Jeffrey Gundlach Says
Article by Theron Mohamed in Markets Insider
The S&P 500 is in a precarious spot, and all signs point to a looming US recession, Jeffrey Gundlach says.
The billionaire investor and DoubleLine Capital CEO noted in a public webcast on Tuesday that following the benchmark US stock index's 24% rally last year, it now trades around the same level as it did at the start of 2022.
"This looks like a pretty lousy trade location with a double top going on," he said, according to DoubleLine's live blog of his comments on X.
Investopedia describes a double top as an "extremely bearish technical reversal pattern" where an asset hits .......