The stock market went through a bit of a rally in recent weeks, until Wednesday afternoon when the market pulled back. After commentary and data from the Federal Reserve on interest rates, many on Wall Street have been debating how the economy will play out for 2024. Jeff Bierman, TheoTrade Chief Market Technician, joins Yahoo Finance to break down his feelings on the current status of the market as well as what is in store for 2024.
Bierman claims that oil (CL=F, BZ=F), among others, is a clear indicator of a recession: “” If we are not going into a recession, which is what the market is signaling, then I ask you or anyone out there, why has the oil market priced in a recession?””
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#oil #yahoofinance #recession
You guys are so off
RSI? , PLEASE……..
Seems like the end of 2007 , all over again,… Oil , only Neanderthals still using that dirty old Rubbish….
Are these the same guys that were predicting the recession that didn’t happen? Wow…
People who understand banking and finances understand things are scary right now. There’s seems like no end to the party and that’s concerning.
@johnharrison4592 no fear
@@johnharrison4592Exactly it feels just like 2007
Yeah we are in recession. Gdp reports are false.
The reports lag but we should start to see the economy data. Healthcare might work but avoid over levered companies because they will be affected by high rates.
Oil is a bad bet we go into recession it tanks.
Is that why buffet bought lots of oxy last week😉
Finally someone said it.
Smart guy.
I guess I should wait for Q4 earnings to come out.
😂 Forget oil. Look at history. When the Fed stops raising rates, a recession is 6 – 18 months away. They are going to raise rates to help Biden’s campaign in 2024. 2025 will be a real recession.
This guy is simply repeating a narrative found on the computer screen/teleprompter to his lower right he keeps glancing at
Nothing happens.
Technical analysis and indicators employed for prediction is akin to using astrology to predict markets. 😂😂😂
Even worse is fundamental analysis. This is similar to harry potters movies
I need my money, why they don’t care…how long should i wait, this is very unrespectfull
Hey, money is important everyday you just don’t care and wait until what?
Everyone knows this isn’t true. Oil lubricates everything, especially recessions. I frequently print out my stock certificates and pour oil onto them so they don’t sieze up. This is not financial advice, and should not be interpreted as such.
These people have been predicting a recession for years at this point. For years. At least since the spring/summer of 2021. At what point do we question their ability to predict a recession
Bierman and his buddy don at theo have been bearish all year and losing money. Ignore this guy.
Hay B, how many countries have left OPEC before Angola and why🤔 inquiring minds want to know!
Could the proliferation of EVs and plug-in hybrids, the high price of gasoline and economic turmoil in china cause the demand for oil to soften a little thereby pushing the price lower?