The Stock Market: Is This the End of the Road?Ben Levisohn
Is the market’s run over? Greg Troccoli thinks so, at least for the time being. Even before May 11’s drop of 2.2% in the Standard & Poor’s 500, Troccoli was selling. Why does that matter? Because Troccoli, director of technical research for alternative investment news outlet Opalesque, has been correct through the market’s run-up. On March 6, he announced he would be buying, and two trading days later S&P 500 had bottomed and was on its way up. Later, he told investors they should chase the market if the S&P 500 closed above 874. Those who took his advice and bought the open the next day made over 3% as the S&P 500 shot up to 907.
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