Tom DeMark, the widely-followed technical analyst and market timer who counts Steve Cohen as a fan, says the market is due to plunge 11% or 16%, and that if we get a lower close tomorrow then the selloff will be confirmed.
You probably remember DeMark from a similar (and very specific) call he made back in January, which of course never materialised. Why didn’t it? On CNBC, he says (oddly) that the Mideast crisis disrupted the market’s pattern, and actually sent the market higher. Hokay…
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