A confluence of daily, weekly and monthly indicators suggest a precise top in the S&P 500, according to market timer Tom DeMark. Founder and CEO of DeMARK Analytics, DeMark shared a chart with CNBC’s “Fast Money” that showed “serious and negative consequences” for the stock market. According to his analysis, the S&P will peak at a level of 1,567.40. StockMonster’s Guy Adami noted a contradictory call. “What he’s saying is exactly the opposite of what Louise said last night, which is why it’s very interesting,” he said. On Tuesday, Technical analyst Louse Yamada said that technical indicators in the Dow transports suggested that the stock market was heading higher.
“Mad Money” host Jim Cramer discusses chart analysis with the DeMARK Indicators.