Analyst Warns The Decline In Stocks Is Going To Be Sharp

Tuesday, February 23, 2016
By Paul Martin
February 23, 2016

With gold surging and oil tumbling nearly 5 percent, today analyst Tom DeMark sounded the alarm bells regarding the recent stock market rally.

A portion of today’s note from Art Cashin: DeMark Says A Stall Here Could Be A Problem – Here’s a bit from Bloomberg:

The Standard & Poor’s 500 Index’s rally will give way to a full-blown retreat should the benchmark gauge lose altitude over the next few days, according to Tom DeMark, the chart analyst who predicted an advance in oil earlier this month.

A momentum formula employed by the DeMark Analytics LLC founder that compares closing prices with levels four days earlier would issue a bearish signal should the advance fizzle this week, he said. Specifically, it would foreshadow a decline should the S&P 500, which ended at 1,945.5 Monday, slip at Tuesday’s open and fall below 1,917, roughly where it ended last week, according to DeMark.

The Rest…HERE

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