WARNING: Last Time We Saw Anything Like This Was Right Before March 2000 & January 2008 Collapses!
KingWorldNews.com
November 14, 2017
With the Dow and the Nasdaq recently hitting new all-time highs, we are now seeing major warning signals not seen since March of 2000 and January of 2008.
Shades Of 2000 & 2008!
November 14 (King World News) – From Jeff Saut, Chief Investment Strategist at Raymond James: Speaking to the short-term direction of the equity markets, we offer this from another brilliant guru – Jason Goepfert (SentimenTrader) – who wrote this last night:
“The S&P’s split personality. Last week, there were a lot of buying climaxes (reversals from 52-week highs) in S&P 500 stocks – 32 of them, which was up from 20 the prior week. There were also a lot of selling climaxes (reversals from 52-week lows), 17 of them, which is highly unusual in a week when there were so many buying climaxes. Usually there are many of one or the other, not both. The only time we’ve seen so many of both kinds of reversals, showing a highly split market, was in March 2000.”
March of 2000? We hope that is not the case here in the current market cycle, but the future can only be lived going forward, while only understood in retrospect! As for the S&P 500 (SPX/2584.84), the ascending trend-line that has been intact since the August lows has been broken to the downside (see chart).
The Rest…HERE
