Friday, January 11, 2013

Tom DeMark: Official S&P 500 Sell Signal Near! (Part 2)

Tom DeMark, founder of Market Studies and creator of the DeMark Indicators, told Bloomberg TV's Adam Johnson yesterday that an S&P exhaustion signal is near. He said if the S&P (which is currently at 1,470) breaks above the September high of 1,474.51 and spikes to 1492-1500, it would generate 13 days of exhaustion and an official sell signal for the market.

In the meantime, he mentioned that Germany, France, and the UK have already generated their sell signals. Tom Demark's S&P call confirms what he previously said on October 22, 2012, that a new high would generate a sell signal. In early December, DeMark called the bottom in the Shanghai Composite Index and predicted it would hit 2,900.


S&P 500 2-yr chart via StockCharts.com


Source: DeMark Sees S&P 500 Falling 5.5% After Peak Near 1,500 (Bloomberg)

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