An Accurate 2016 Forecaster

One Of The Most Accurate Forecasters Of 2016: "S&P Is The Most Overbought Since 2009: Sell!"

 
Submitted by Tyler Durden on 03/23/2016 12:35 -0400

 At ZEROHEDGE.COM

Lately being a bear has meant sharing quite a crowded field. First it was JPMorgan, which not only said to sell any rallies, but three weeks ago said it had gone "underweight stocks for the first time since the financial crisis"; then technicians such as Evercore ISI summarized their sentiment as follows "I'm out; my bullish tactical call is over", and then on Monday, even Goldman jumped on the bandwagon urging clients "to go to cash" ahead of "expected elevated volatility" and that the "current relief rally" is almost over.
Today, it's the turn of UBS' technicians, Michael Riesner and Marc Muller, best known for calling both of the last two market selloffs in advance (and the concurrent jump in gold), as well as timing the Feb.11 market bottom with uncanny accuracy, when they joined the bearish chorus with one simple plea: "SPX Reaching 2050 Target … Take Profit/Sell!"
This is their call in a nutshell:

See great charts and the full article at the following link

http://www.zerohedge.com/news/2016-03-23/one-most-accurate-forecasters-2016-sp-most-overbought-2009-sell


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