U.S. Stocks May Rally 30% on DeMark Buy Sign: Technical Analysis
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U.S. stocks may decline over the next two to three weeks before rallying as much as 20 or 30 percent, according to a technical analyst at Market Securities who uses DeMark indicators.
“The odds are pretty positive for this month and quarter,” Jean-Charles Gand, head of technical analysis at Market Securities in Geneva and former president of the French Association of Technical Analysts, wrote in a report today. “The S&P has a chance to rally over the next couple of weeks,” he wrote, adding that there’s a risk of a selloff before the gains.