The executive director of the Charles Nenner Research Center, Charles Nenner, told Bloomberg TV’s Trish Regan his cycles were now turning down for the stock market into the years 2017-2018. He discussed his calculations which show the Dow falling to 5,000 [see video below].
Nenner also mentioned Apple (AAPL) which he called a top on and shorted when it was just over $700 in the fall of 2012. He said the cycle was still down for AAPL, although he covered some of his short at $500. The bottom for the cycle on AAPL is $360, Nenner added.
Nenner said he had a price target of 1505 on the S&P 500 and sold everything a couple of weeks a ago when it hit this level.
Nenner said the cycle for the semiconductors index (SOX) was topping in a couple of weeks and he discussed the prospects for Intel (INTC) in particular.
Toward the end of the interview Nenner provided a simple explanation of his cycle analysis.
In early January, Nenner told Jim Puplava his cycle analysis showed the stock market would be up into February [link].
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