Charles Nenner Sees S&P 500 Topping Out Between 1450-1500

By on March 21, 2012

According to John Navin, Contributor at Forbes Magazine, Charles Nenner, along with Tony Caldaro, and Ramki Ramakrishnan, expect the S&P 500 to top out between 1450 to 1500. All three are amongst the more accurate practitioners of Elliot Wave technical analysis, according to Navin.

The timeframe for the exhaustion of the move off this 4-month long bull market run is expected to be sometime in the second quarter.

Nenner is considered an expert in cycle analysis and was formerly a technical analyst at Goldman Sachs. He now heads the Charles Nenner Research Center.

Regarding Charles Nenner, Jon Markman, at Marketwatch reports:

The CBOE Volatility Index VIX has dropped under 15, and some skeptics point out that this is a sign of complacency. Well, if the past is any indication, the decline will persist. Last time the VIX sank under 15 after an extended period above that level, the S&P 500 rose dramatically four to five straight years. The two instances were 1992-1996 and 2004-2007. If this history plays out again, the market would theoretically rise until 2016. Veteran cycles analyst Charles Nenner said his research suggests the VIX may be headed to a long-term low of 7. That is a very out-of-consensus idea no one is thinking about, which makes it valuable to consider.

Sources: Marketwatch, Forbes

Although Navin claims Nenner is an accurate forecaster, he is on record saying the Dow (now over 13,000) would hit 5,000 in 2-3 years in the video below from 2011.

2 Comments

  1. John

    March 30, 2012 at 7:53 am

    So, what became of Nenner’s prediction of Dow 5000 made in early 2010? Does anyone hold these people accountable? Anyone?

    • Dennis

      April 14, 2012 at 4:56 pm

      His call is for DOW 5000 in 2013. It has always has been for 2013+ due to war.

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