Black Monday Calls Surge as Contrarian View Sees S&P 500 at 8,000
Social media is seeing a wave of Black Monday warnings, but The Kobeissi Letter argues the panic may be a contrarian signal for further S&P 500 gains.
SPX
The Kobeissi Letter noted that calls for a “Black Monday” are spreading rapidly across social media.
Rather than endorsing the bearish message, the account framed the wave of warnings as a contrarian signal. It argued that if history is any guide, the S&P 500 should hit 8,000 soon.
The post did not provide a specific timetable or catalyst beyond the historical comparison. It advised readers to ignore the noise and read the full analysis below.
Source: The Kobeissi Letter