Elaine Garzarelli: 1300 on the S&P 500 Next Year

By on September 5, 2009

Elaine Garzarelli, interviewed on The Nightly Business Report yesterday, said she was pleased with the jobs report, saying it was much better than expected. She said her 14 market indicators stand at 83%, which is bullish, since over 65% is positive. Garzarelli was quick to point out that her indicators turned bullish on March 13th; four days after the bottom.

Garzarelli characterized the current environment as a cyclical bull market. She added that the average gain during this type of market was 150%, and we’re currently up about 50%. She felt that exports, business equipment spending, consumer durables, and the technology sector would lead the market higher.

Garzarelli recommended SPDR S&P Homebuilders (XHB), Industrial Select SPDR (XLI), Materials Select Sector SPDR (XLB), and iShares MSCI Emerging Market (EEM); all of which she holds in her sector analysis fund.

Source:

http://www.pbs.org/nbr/site/research/learnmore/elaine_garzarelli_video_090904/

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