In a Bloomberg TV Interview last week Tom DeMark calls for a market bottom in the next 2-3 market days. He is not a man to mince his market calls. He does not get it right every time but some of his calls have been simply spectacular. I’ve known Tom for many years and can vouch for this. You have to listen carefully to what he says. He is very precise (It would help if the interviewers would shut up and not interrupt him). “If these conditions are met, the market will do the following…” That is his way of telling it (if you let him Bloombots).
In the Bloomberg TV interview recorded on on 11th February he says he expects we will find a bottom at 1,792 with an intra-day low of 1,746 for S&P 500 futures and 1,797 for the index. Gold to run further. Listen carefully to his shanghai forecast for a low and then a 40% rally. Looking for a $40-$42 in oil.
Tom is in London at the start of March and, if you can get to the Bloomberg or STA presentations we can hear more and tackle him on his forecasts. I will be at both events. I am excited.
I owe a great debt to Tom. He has been a good friend over several decades and been good enough to share his knowledge generously. I can honestly say, most of what I have learned of real money-making value in technical analysis has come from Tom and only a couple of others.
@TimingWith BETAgroup #BETAfinancial