Tom DeMark, founder and chief executive officer of Market Studies LLC, talks with Bloomberg’s Kevin Thrash about indicators he's developed to show turning points in financial markets. This story is featured in the December issue of Bloomberg Markets magazine: DeMark Fibonacci Charts Embraced by Cohen Lure Investors.
His latest call on stocks was Oct. 24, when he said the S&P would reach 1,480 -- a new high for the year -- within two weeks, then reverse. He was right about the decline, not the peak. The index rose to only 1,434 intraday before falling. As of the market close Nov. 12, it had dropped 3.8 percent from that high.
Spotting Market Trends Before They End (Oct 25)
Market on Verge of Significant Decline (Oct 25)
His latest call on stocks was Oct. 24, when he said the S&P would reach 1,480 -- a new high for the year -- within two weeks, then reverse. He was right about the decline, not the peak. The index rose to only 1,434 intraday before falling. As of the market close Nov. 12, it had dropped 3.8 percent from that high.
Spotting Market Trends Before They End (Oct 25)
Market on Verge of Significant Decline (Oct 25)
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