Tech Bull Market Nears End, Late-Cycle Rally on the Horizon

Economist Henrik Zeberg has analyzed the current state of the tech bull market and believes it is nearing its end. According to his research, the market is experiencing late-cycle dynamics where prices may continue to rise despite weakening economic fundamentals.

The current market environment reflects a divergence between market performance and economic conditions, pointing to increasing fragility as the cycle matures. This means that while markets can still advance in the short term, the underlying structure is beginning to show signs of fatigue.

Zebeg notes that late-cycle rallies are often driven less by earnings growth and more by sentiment, expectations, and positioning dynamics. He predicts a strong upward move in risk assets, including stocks and cryptocurrencies, before the major top of the supercycle.