Stock market analyst Tom DeMark, who has been employed as a special advisor to SAC's Steve Cohen for the past 15 years says The market's going to have one more...

Tom McKay
Tom McKay Livewire

Stock market analyst Tom DeMark, who has been employed as a special advisor to SAC's Steve Cohen for the past 15 years says The market's going to have one more rally, then once we get above that high, it's going to be more treacherous. DeMark compares the situation to 1929 and says. I think it's all preordained right now. He feels this is probably irrespective of how and when the crippling impasse in Washington is resolved. If you look at the new highs and new lows on the , he says, every time we made a higher high, there were fewer stocks in the index participating in that high. It's getting narrower. And once that happens, you typically get a collapse. The opposite looks to be true for gold, which he expects is making its low right now and should start to move up dramatically. (VIEW LINK)

gold usa nyse sac

Comments

Please sign in to comment on this wire.