09:34 06/03 US STOCKS/OPINION: Via JPMorgan's Mike Krauss -
"I expect the S+P 500 to top this month in the 950-1000 primary target zone, where one should book gains...I was looking for a near-record 50% gain, and we've almost gotten it. Most likely top will be the last two-weeks of June. If there is a slight move above 1000, it'll probably be a headfake. I fully expect the S+P to fall between the 4th of July and Labor Day, back into the 850-800 zone (875-830?). So, that would be a minimum 100 point drop. Then another rally to 950-1000+ in 4Q. Again, I don't see the S+P 500 exceeding the 1100 long term barrier until the
'Global Financial system is fully healed and healthy again' - .i.e. not for the next 12-18 months."