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So that’s a “preliminary” Ohama Titanic Syndrome signal.
To be sure, the Titanic Syndrome hasn’t always resulted in a downturn in the market.
He described the development as a “chink in the armor of the stock market.”Some believe the Ohama Titanic Syndrome could point to equity benchmarks turning decisively lower, with a downdraft of 5% or more.
On Wednesday 42 new 52-week highs were put in compared with 70 lows, according to Dow Jones data.
Read: Read MarketWatch’s stock-market columnProminent chart specialist Tom McClellan on Tuesday said when lows surpass highs, within seven trading days of a 1-year peak for the S&P 500, it flashes an Ohama Titanic Syndrome signal.
What the stock market is saying now: ‘In Trump we trust’
How does that affect the stock market?
It’s interesting to watch the U.S. stock market move higher with precious little in the way of details on how the Trump administration’s investor-friendly initiatives will be funded.
This is definitely not a growth stock, as earnings, while positive, have not been consistent.
— Kevin MarderFor intraday market comments and stock ideas: https://twitter.com/mardermarketEarnings estimate data provided by Thomson Reuters.
Most analysts expect 17% earnings growth in the April 2018 fiscal year.
It perhaps is understandable why Wall Street would want us to forget this 17-year-old bear market.
That bear market lasted a little more than seven years, in other words — a far cry from the 17 years, and counting, that the recent bear market in Nasdaq COMP, +0.01% stocks has lasted.
Richard Thaler: Here’s the best investing strategy (1:31)Did you forget the bear market that began on April 30, 2011?
That’s because everyone is falling over themselves this week commemorating another anniversary — the allegedly longest bull market in history.
But before I discuss that bear market, I want to first point out that the bull market that began in March 2009 died many years ago.
collected by :Dicson Walt