The old comparison is back. Tom Demark a market timer is concerned:
"The market’s going to have one more rally, then once we get above that high, I think it’s going to be more treacherous," DeMark says. "I think it’s all preordained right now." He feels this is probably irrespective of how and when the crippling impasse in Washington is resolved. "If you look at the new highs and new lows on the [New York Stock Exchange]," he says, "every time we made a higher high, there were fewer stocks in the index participating in that high. It’s getting narrower." And once that happens, you typically get a collapse.
Wow, we get another rally. Probably the rally after the debt deal. So, don't do a debt deal, don't make that last rally, keep the thing where it is!
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