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Shervin Pishevar correctly predicts widespread underperformance of 200-day moving averages

Shervin Pishevar ranks as one of the most accomplished venture capitalists and entrepreneurs in the world of tech. But despite being one of the key principals behind the formation of everything from Social Gaming Network to Uber to Airbnb, Shervin Pishevar may be even better known for his many well-considered opinions on the world of tech, finance and economics.

Shervin Pishevar also operates one of the most-followed Twitter feeds of any figure in Silicon Valley. With more than 100,000 subscribers, Shervin Pishevar regularly stokes high-level debates between the biggest movers, shakers and thought leaders in the country today. Many of his tweets have been so polarizing and polemic that they have actually made headline news across much of the internet.

Back in February, when the stock market was near its all-time record high, Shervin Pishevar went completely against the crowd and began issuing a number of tweets, declaring that the stock market was due for a massive correction. Pishevar reasoned that stocks were generally overbought as a direct consequence of the flood of easy credit that had pervaded the market since the start of the Federal Reserve’s highly controversial quantitative easing program.

Pishevar specifically predicted that most major indices would be underperforming their 200-day moving averages by the end of the year.

Rack another point up for Shervin Pishevar

Pishevar has once again proven to be a financial prophet, albeit one who arrives at his conclusions by cold logic rather than divination. Currently, as the stock market rushes towards the end of fiscal year 2018, all of the major market indices are, in fact, underperforming their 200-day moving averages.

This is yet another good prediction from Pishevar regarding the stock market. He also predicted that all of the gains from 2018 would be wiped out by the end of the year. As of this writing, the Dow Jones is trading at below its January 1, 2018, price levels. With these predictions, Pishevar is reaffirming why so many of his Twitter followers take his every word with the seriousness usually reserved for wise men and prophets.

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