David Hunter: Stocks Aren't Done Going Up, But the Big Crash Is Coming

— David Hunter predicts a "melt-up" in equities over the next 3–6 months, with S&P 500 reaching 10,000, Nasdaq 36,000, Dow 70,000, and Russell 4,000—representing roughly 30% upside from current levels.

— He forecasts an 70–80% bear market ("global bust") to follow, driven by excessive leverage in debt and derivatives that amplifies downturns more severely than 2008–2009.

— The Federal Reserve may be forced to print $20 trillion in new money during the bust, leading to 25% inflation by the early 2030s and correspondingly high interest rates.

— Market breadth has broadened significantly this year across sectors (industrials, healthcare, financials, small caps), contrary to the narrative that only AI and mega-cap stocks are performing.

— Gold target: $7,000 per ounce this cycle (silver to $200); next cycle $20,000 gold and $1,000 silver after the bust and subsequent inflation cycle.

— Bitcoin shows technical weakness; Hunter's technical read suggests potential pullback to $75,000, then possibly $50,000, though he emphasizes limited Bitcoin expertise and views it as a contrarian asset to test during the bust.

— Sentiment and narrative are key top indicators: when institutions and retail are "all-in" with multi-year bullish stories (e.g., "semis will coin money for years"), it signals late-stage parabolic behavior and potential imminent rollover—don't wait for fundamental deterioration.

— A 70–80% bear market from current highs may not be recoverable for decades under typical buy-and-hold strategies; if you exit now expecting a crash, you risk missing 30–40% gains in the next 3–6 months before the top, then being drawn back in by FOMO. Understand the risk/reward of early exit versus timing precision.

— Leverage in bonds (Cayman Islands-domiciled hedge funds absorbing ~37% of Treasury issuance) and positioning (short equities while long bonds) suggest institutional skepticism; this wall of worry can fuel the final rally, but also indicates fragility if sentiment flips rapidly.