Whether you believe in market timers or otherwise, here's one who thinks trouble looms just around the market calendar.
The worst isn’t over for Wall Street stocks. That is at least how respected chart-watcher Tom DeMark sees things possibly unfolding as investors get ready to close the book on February and head into March.
DeMark, who founded his eponymously named data analytics firm in Scottsdale, Ariz., is predicting that stocks are in for a big fall.
That’s highlighted in his view of the S&P 500 SPX, +1.13% which he sees dropping 8% to 10% from current level to around 1,786. The broad stock-market benchmark could tumble to 1,733, if things get really ugly, he said. His gloomy call was briefly highlighted by MarketWatch’s Victor Reklaitis on Wednesday.
DeMark is a chartist and here are a few of them. marketwatch.com/story/why-tom-demark-is-predicting-an-ugly-fall-for-the-sp-500-in-march-2016-02-25
No comments:
Post a Comment