Tom Demark Calling for Big Correction
Tom Demark, founder of Market Studies LLC is calling for a 10%+ decline in the S&P 500 that should begin within the next two weeks. DeMark’s Sequential and Combo indicators are used by many of the largest hedge funds in the world and are currently generating their first sell signal since 2007.
I agree. Within a month, people could be looking back on the quantitative easing enthusiasm (which occurred despite the global leverage and demographic problem) as one of the most ridiculous delusions in years.
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But earnings are still generally pretty good. Which could offer a rationale to buy.
Although the general backdrop is pretty crappy, that's for sure.
A time to be cautious, whichever way you lean.
Nice punt, eric.
You sound like a wall street guru using the double speak.
Earnings are good.....backdrop is crappy
Hmmm. So whatever happens, you called it right.
Stocks go up, well I said earnings are good.
Stocks go down, well I said the backdrop is crappy.
You sure you're not some wall street guru? You have the game down cold.
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