Valuations as a Recession Indicators

The video discusses the concept of 'elves' in market analysis, originally introduced by Louis Rukeyser. The elves' index reflects market sentiment, with a focus on the Dow, NASDAQ, Amex, and Russell. The updated elves are real analysts providing projections for the S&P 500, with a median projection of 4025. Analysts like Tom Lee and Michael Kantowitz offer varying projections, highlighting different probabilities for market outcomes. The discussion includes potential risks and the likelihood of the S&P 500 revisiting lower levels before rising above 4200.

What is the probability of a recession according to Jan Hotsy?

What is the expected S&P 500 target by the end of the year according to David?