Ralph Acampora Foresees a New High for the DJIA

By on October 25, 2013

Ralph Acampora - Altaira LimitedLong-time market technician Ralph Acampora, Senior Managing Director of Altaira Limited, spoke to CNBC’s Jackie DeAngelis this week and explained why he turned bullish on the market.

Seeing stocks like American Express and Disney hit all-time new highs along with AT&T and Intel acting better “over the past month or so” altered Acampora’s view.

Acampora sees over 1/2 the components of the Dow breaking out which will power the DJIA to between 16,500 and 17,000 by the end of the year.

However, Acampora feels that by year-end the market will be very overbought setting up for weakness in 2014 [link].

Back in mid-August, Acampora said positive news was not impacting the market and there was a possibility for a 15% sell-off [link].

5 Comments

  1. Leigh Hung, Major

    October 25, 2013 at 11:47 am

    Please post clips of Diane Macedo from Fox Business News. She has powerful insights.

  2. Mike Schank

    October 27, 2013 at 1:48 pm

    Really bold prediction! The Dow will be just playing catch up to the other indexes.

    These people make a good living trying to outguess the unguessable. If there was any justice they’d be struggling like the rest of us.

  3. Annabelle

    October 28, 2013 at 2:30 pm

    Actually Mike, Ralph’s predicting a sizable up movement from the current level. What he sees is a 10% advance from where it is now. That’s what you get in a typical year and he predicts it will happen in 3 months. Unlikely, but who knows – the market has been on fire this year.

  4. Anita Bohn

    November 1, 2013 at 12:41 pm

    RE: Mike Schank

    Your idea of justice is to have everyone struggle? Typical libtard statement. Enjoy that Obamacare while you’re wasting our oxygen.

  5. Roderick Usher

    November 1, 2013 at 7:21 pm

    Stocks can keep rising. Many are still cheap. Lots of stocks are priced at less than $10. What else can you buy for so little money?

    There is nolimit to how high they can rise. The risk of loss is small. Businesses are finding new technologies to become more efficient daily.

    Why do people think this will ever change. Buy stocks and build your wealth! The Fed won’t ever stop printing so enjoy the fruits of the capitalist dream.

    Communism is dead. All that remains are capitalist growing richer daily.

    Take advantage of this incredible opportunity!

    That is all for now.

    Goodbye

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