DeMark Says S&P 500 Climbing to Oct. 27 Peak Is ‘Critical’

The Standard & Poor’s 500 Index is likely to extend gains should it advance 2.4 percent to its Oct. 27 closing level and then close higher on three or four straight days, according to Tom DeMark, the creator of indicators to show turning points in securities.

The benchmark gauge for U.S. equities closed at 1,284.59 on Oct. 27 and advanced 0.8 percent to 1,254 today. DeMark of Market Studies predicted on Dec. 5 that the S&P 500 would advance to between 1,330 and 1,345 this month before the rally reverses. The latest forecast will expire by the end of the first week of January if it doesn’t come true, Market Studies’s Roderick E. Bentley said in an e-mail.
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