‘Godfather’ of chart analysis says Wall Street shouldn’t bet on stock-market records anytime soon

Prominent market technician Ralph Acampora says Wall Street needs to put in fresh highs for him to be confidently bullish about the outlook for stocks, after a whipsawing period for the major indexes. But it isn’t entirely clear that investors will see records in the immediate term, he said.

A pioneer in the field of chart-based market analysis, Acampora said the market remains mostly healthy but remains fragile amid clashes between the U.S. and its international trading counterparts, including China. Back in November, Acampora accurately declared that the destruction of the stock market’s updraft in the fall of 2018 was “much, much worse” than Wall Street was articulating.

Acampora said that stock indexes also need to show their ability to defend those Dec. 24 lows, which he would view as a healthy development, going forward, though he isn’t predicting that stocks will head back to those lows.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cisco stock rises as earnings, revenue forecast top Street estimates amid tariffsCisco Systems Inc.’s stock rises in the extended session Wednesday after the networking company reports quarterly results that top Wall Street estimates and...
Source: MarketWatch - 🏆 3. / 97 Read more »

Trade-sensitive stocks on ropes as uncertainty weighsA week of worsening fears on Wall Street leading up to Washington's increas...
Source: Reuters - 🏆 2. / 97 Read more »

Wall Street Weekahead: Trade turbulence shows market vulnerability as stocks get pricierStock valuations have climbed to levels reached just before Wall Street's l... Pay at your own risk Don’t buy high. The low is coming Expect the economy to tank. Stocks are artificially high because CORPS have bought back their own stocks with the GOPTaxScam$ Only saving grace is that they also bought high. Remember 2008-2009. And there wasn’t a tariff war 🔴 islamic state 🔴 Breaking Wilayah India Junud Khilafah berbaku tembak dengan tentara India kafir di Amsyi Burah, Syubian, Kashmir, menewaskan beberapa dari mereka. Walillahilhamd. isis
Source: Reuters - 🏆 2. / 97 Read more »