DeMark Says S&P 500 May Peak Above 1,250 This Week, Decline 5.6%

DeMark Says S&P 500 May Peak Above 1,250 This Week, Decline 5.6%
   
S&P 500 may advance as high as 1,254 before falling at least 5.6%, technical analyst Tom DeMark wrote in an e-mail today.

This rally should squeeze short sellers and exhaust late buying: DeMark; The rally should be fast.

DeMark's prediction last month that the S&P's decline would stop at 1,076 proved prescient, it bottomed at 1,074.77

S&P would produce sell signal today by closing above its Oct. 12 close of 1,207.25, marking 9th consecutive day the benchmark exceeded its final price four days earlier: DeMark

Close above 2-mo. high of 1,224.58 reached on Oct. 14 would "perfect" the sell setup:


-DeMark


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