by Jason Bodner
November 26, 2024
Have you polished your crystal ball lately? Because it would come in handy right now.
Some say crystal balls came from Celtic Druids from roughly 800 BCE, although it was likely much earlier than that. Their documented use has been seen as far back as the Babylonians, Ancient Egyptians, Hindus, Greeks, Mayans, Incas, North American Indians, and Australian Aborigines.
Whether or not they worked is a whole other matter. The good news is that, while I may not have an actual crystal ball or tea leaves to read, I do have a crystal ball – of sorts – my treasure trove of market data, which allows me to suggest the future. “Suggest” is a word data scientists love, so I’ll use it, too. It lets them (and me) off the hook if something doesn’t go according to prediction.
So, let’s peer down into my crystal ball of historic data and see what the future may bring.
After a choppy ride, the BMI looks poised to – pardon the term – puke out its guts, based on its chart, and history. If it does, that usually doesn’t bode well for stocks. But will it plummet into an abyss (red line)?
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