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DeMark Says S&P 500 May Reach 1,342 Next Week Before Falling

The Standard & Poor’s 500 Index may approach 1,342 by Jan. 24 before retreating, said Tom DeMark.

The benchmark measure of U.S. equities closed at 1,315.38 today after rallying 4.6 percent in 2012 and 20 percent since Oct. 3. He said in an interview today that the measure may get to between 1,338 and 1,342, a level last seen in July.