{"id":39977,"date":"2018-10-31T15:33:09","date_gmt":"2018-10-31T20:33:09","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39977"},"modified":"2018-10-31T15:33:09","modified_gmt":"2018-10-31T20:33:09","slug":"the-godfather-of-market-analysis-damage-done-to-the-stock-market-is-much-worse","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39977","title":{"rendered":"The \u2018Godfather\u2019 Of Market Analysis: \u2018Damage Done To The Stock Market Is Much Worse\u2019"},"content":{"rendered":"

The \u2018Godfather\u2019 Of Market Analysis: \u2018Damage Done To The Stock Market Is Much Worse\u2019<\/a><\/h3>\n
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The so-called \u201cGodfather\u201d of market chart analysis said that the damage already done to the stock market is much worse than most people are talking about.\u00a0Ralph Acampora, a prominent market technician, says the stock market is in bad shape and it\u2019s worse than many Wall Street investors appreciate.<\/p>\n

\u201cFrom a technical perspective, the damage that has been done technically to the stock market is much, much worse than people are talking about,<\/strong>\u201d he told MarketWatch<\/em><\/a> in a phone interview on Tuesday.\u00a0Acampora also said that the technical damage that has resulted in the Dow Jones Industrial Average\u00a0and the S&P 500 index\u00a0erasing all of their gains for 2018, and the Nasdaq Composite Index\u00a0falling into correction territory (which is usually characterized as a decline of at least 10% from a recent peak) will take months to repair.<\/p>\n

\u201cI\u2019ve been a bull for a long, long time and like everyone, I was waiting for a correction but this is something different,\u201d said Acampora. \u201cAll the leadership is getting crushed,\u201d he said. He added that he feels that the entire market will go into bear territory soon.<\/p>\n

\u201cHonestly, I don\u2019t see the low being put in yet and I think we\u2019re going to go into a bear market,\u201d he said according to MarketWatch.<\/em><\/a> He speculates that the market may not be healed until around the first quarter of 2019. Acampora said that the current dynamic in the market was eerily similar to the\u00a0stock-market crash of 1987<\/a> when the Dow plunged a historic 22.6% in a single day on October 19 of that year.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The \u2018Godfather\u2019 Of Market Analysis: \u2018Damage Done To The Stock Market Is Much Worse\u2019 The so-called \u201cGodfather\u201d of market chart analysis said that the damage already done to the stock market is much worse than most people are talking about.\u00a0Ralph Acampora, a prominent market technician, says the stock market is in bad shape and it\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[6489,22718,5220,22719,6490,1138,860],"class_list":["post-39977","post","type-post","status-publish","format-standard","hentry","category-economics","tag-mac-slavo","tag-market-analyst","tag-marketwatch","tag-ralph-acampora","tag-shtfplan-com","tag-stock-market","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39977"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39977\/revisions"}],"predecessor-version":[{"id":39978,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39977\/revisions\/39978"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}