The final stage of the potential collapse of the US market may have already begun, he said Bloomberg big commodity Strategist Mike McGlone.
The “pump and dump” speculative pattern seen across multiple asset classes is increasingly spreading toward stocks, increasing the risk of a broader market correction, McGlone said in a report. interview With David Lean Published June 12.
According to Maglone, 2026 is defined by sharp rises followed by rapid declines in assets like Bitcoin (Bitcoin), silverNatural gas and agricultural commodities.
He warned that the same dynamic could eventually reach the US stock market, which could represent the next stage of the cycle.
The warning comes as strong corporate earnings and a prolonged bull market continue to attract capital into stocks.
To that end, McGlone said Stocks It became the main destination for speculative money, attracting investment away from commodities, precious metals and others Cryptocurrencies.
Regression effects
In his view, capital is increasingly flowing into stocks at the expense of alternative assets such as gold and commodities.
“Pumping and dumping is the main theme so far this year. And the significance to my forecast is that I think it’s just getting started.<….> “For me, the endgame is a pump-and-dump pattern, which started in bitcoin, natural gas, silver, and corn, and will spread to everything, including crude oil and the stock market.”
While he did not provide a specific negative goal for Standard & Poor’s 500He warned that the pump-and-dump pattern we have already seen may eventually spread, making the US stock market the final stage of the cycle.
The strategist suggested that the stock market could eventually lead to a broader decline across financial markets. While speculation has already calmed in some commodities after strong gains earlier this year, he believes the underlying risks remain unresolved.
McGlone said the recent decline in precious metals reflects a typical market peak pattern, where strong rallies are followed by profit-taking.
He pointed to silver’s sharp advance and subsequent decline as an example of unwinding excess speculation.
Despite the correction, he expects gold to find support near $4,000 and remain largely limited in the long term if historical trends continue.
