March 6, 2013
Http://www.cnbc.com/id/100529792
A confluence of daily, weekly and monthly indicators suggest a precise top in the S&P 500, according to market timer Tom DeMark.
Founder and CEO of Market Studies, DeMark shared a chart with CNBC's "Fast Money" that showed "serious and negative consequences" for the stock market.
According to his analysis, the S&P will peak at a level of 1,567.40.
StockMonster's Guy Adami noted a contradictory call.
"What he's saying is exactly the opposite of what Louise said last night, which is why it's very interesting," he said.
On Tuesday, Technical analyst Louse Yamada said that technical indicators in the Dow transports suggested that the stock market was heading higher.
"I'm sort of in the Tom camp," Adami said. "We'll see."
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Tom DeMark came out with a "Sell the World" recommendation on January 10th with an S&P target of 1492.
It was followed by this February 22nd comment that the world markets may soon resume their uptrends:
"Euro stoxx 50 index (sx5e) has now declined 5.5% off its January 30 high day's close and therefore fulfilled exactly its projection of a 5.56% decline it would do on bberg tv January 10 show, albeit from a slightly higher level at that time. Although Euro stocks and far east markets did decline and some sell-offs were precisely 5.5%, such as the current SHCOMP Index whose exact low day today was its downside trend factor level, SPX has merely moved sideways to slightly higher during that period. It now appears world markets may soon resume their uptrends. DISCLAIMER: SOLELY EDUCATIONAL AND OBVIOUSLY SUBJECT TO CHANGE."