Tom DeMark: The Market Should Top…Finally

By on May 6, 2014

Tom DeMark - DeMark AnalyticsCNBC’s Rick Santelli asked Tom DeMark, CEO of DeMark Analytics, which direction the stock market would make it’s next big move to which DeMark stated, “the downside.”

DeMark said they use a natural market rhythm type of analysis. According to that analysis back in October, indications were the market would be topping from December 31st to the middle of January, according to DeMark. Many markets did top temporarily (NASDAQ, Russell 2000 in March) and DeMark said other markets are topping out separately.

DeMark sees upcoming peaks in the S&P 500 and the NYSE Composite. DeMark says the Dow effectively peaked on December 31st and a secondary move up to a level of 16,660 would create a top for the DJIA.

Santelli asked at what levels investors should focus on to confirm DeMark’s calls. DeMark explained the calls he’s made over the past several years and said new highs in the indexes “will exhaust the market.”

Back in early February, DeMark was looking for the market to unravel quickly in a 1929 type collapse with an ultimate low of 1,100 for the S&P 500 [link].

3 Comments

  1. Old Overholt

    May 29, 2014 at 12:11 pm

    The old saying about a stopped clock applies. But dagnabbit I think he might be right this time.

  2. Pappy Blanton

    June 24, 2014 at 12:10 pm

    Try your luck again in another couple of months. At the first sign of weakness the all-powerful Janet will ride to the rescue. The bears can’t win this battle.

  3. Pingback: Tom Demark on Why US Stocks Might Crash 40% - Page 2 - InformedTrades

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