Warning, Crash Dead Ahead! We are Entering The ENDING PHASE OF BULL MARKET
October 9th, 2012
MARK HULBERT: Bear market may begin
Will the bull market come to an end on Oct. 9?
Oct. 9, for better and for worse, is a big date historically for the stock market.
Don’t laugh. It turns out that two of the most prominent market turning points of the last decade occurred on this very date.
The first was the beginning of the 2002-2007 bull market, which occurred on Oct. 9, 2002.
The Dow Jones Industrial Average (DJI:DJIA) on that date hit an intra-day low of 7,282.39, and the S&P 500 index (SNC:SPX) sank to 775.80 — more or less half the levels these indexes would rise to in five years’ time.
The second of those major turning points came as that 2002-2007 bull market was coming to an end. Believe it or not, its exact end was on — you guessed it — Oct. 9, 2007.
In the ensuing bear market, the Dow and the S&P 500 would each lose more than half their values.
You might think that there are almost impossibly low odds that two trend changes this momentous would occur on the very same day of the year….
This Could Be The Most Powerful “Global Sell Signal” In A Generation
Is It Time To Get Bearish?
A must-see report from a top technical trader
Now, I’m not in the ‘end of the world’ camp. Far from it. But my friend and excellent technician Richard Ross put out a note Friday that brought up some interesting points. (Click Charts to Embiggen)
Ross thinks that a Euro breakdown here could, “Generate the most powerful ‘Global Sell Signal’ of our generation” (speaking of scaring the hell out of…