tag:blogger.com,1999:blog-12333088.post4372819799851952342..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: Guesstimates on January 15, 2013Carl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-12333088.post-60342875957003599932013-01-15T18:23:22.246-05:002013-01-15T18:23:22.246-05:00Market Timer Tom DeMark said today on CNBC that AA...Market Timer Tom DeMark said today on CNBC that AAPL had hit his $495 downside target and that the LOW was made today (possibly tomorrow)and that he would expect a 22% rally back up to $600.<br /><br />Remember, DeMark is not a technician. He prides himself in being a "timer".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12333088.post-91710431051966234242013-01-15T18:16:03.435-05:002013-01-15T18:16:03.435-05:00Hi Carl
I mentioned this a few months back and i t...Hi Carl<br />I mentioned this a few months back and i think it bears some thought today . First of all though , the chart i am looking at is a combination of the dow and the transports nyse spx oex ndx and sox <br />indexes all added together .<br />For the most part last year was the sideways movement of pts 15 though 20<br />. If im correct then the point 20 low was on dec 31 2012 . and we are now heading up towards point 21 . I do realize this type of analysis is not conventional thinking . the reason im labeling this as point 21 is it is into new high territory counting from the july 1 2010 lows . essentially the market has already broken out despite the individual divergences .<br />so im with you with the bullish view how ever the time counts are now becoming skewed so its a bit of a tough call from here . lastly <br />i have some very long term slow indicators i look at that are near <br />very long term oversold readings from an early feb 2011 high , the data on this indicator goes back to 1928. as of today this indicator has not yet turned up and is into territory that has marked many lows since 1936 .<br />bottom line this extension higher if it comes may become longer then many expect as many turns in this indicator take a year to 2 years before even getting into the normal upper range . <br />food for thought <br />JoeAdsensehttps://www.blogger.com/profile/08031892140855200123noreply@blogger.com