Apologies. As the bull market has ground on endlessly, I might have provided you with a precise target for the elusive Mother of All Tops. Instead, what I’ve done in recent months is pussyfoot with relatively minor rally targets of limited value. Can you blame me for hoping that one of these little pishers would eventually nail the summit of a runaway bull badly in need of a rebuke? So far, as you will have noticed, I’ve had only limited success. However, I will warrant that the3095.19target for the S&P 500 shown in the chart (click on inset) is a decent bet to call THE top. I will be betting on it, and so should you, especially if you are a permabear who sees hellfire as the only remedy for a stock market that long ago lost its connection to reality. If you are a permabull you can bet on it too — by trading more aggressively than you might otherwise until the target is reached.
What is most striking about the chart shown in the inset is that it is so similar to one labeled ‘My Epiphany’ in the PowerPoint presentation I use to teach the Hidden Pivot Method.Click here to compare the two. Regarding the epiphany, it came in 2004. I was very bearish then as always, and I viewed the stock market as being in a multi-year topping process. However, this didn’t jibe with what the Hidden Pivot Method was telling me. I’d developed the system exactly for this situation. It gave me a mechanically objective tool to supplant gut feelings that were often wrong at key turning points. By focusing solely on the charts, I was able to see not only that the broad averages were not in a topping process, but that they were headed much higher.
15 Years of Practice
Despite my newfound clarity of mind, I continued to write very bearish think-pieces forBarron’s, theSan Francisco Examinerand other publications. Making grim predictions is a habit that has continued to this day. But readers of myExaminercolumn would not have guessed that the forecasting and trading side of my life was bullish as all get-out, nor that I was predicting an imminent rally of 3200 points in the Dow Average. And now, the benefit to you of my 15-year learning curve is that I am confident in the 3095 target, even allowing for the fact that my merely saying this is probably hubris enough to queer the prediction in some way.
In any event, you should jot down the number 3095.19. If you want to know how to derive it yourself — a cheap parlor trick that anyone can learn, as I am wont to tell subscribers —click here to learnThree Secrets of the Hidden Pivot Method.
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.