Post by PoorHomey on Jul 15, 2016 1:20:19 GMT -5
Hi folks...
Haven't traded in what seems like forever and don't actively follow the market these days, but one of the few resources I still pay attention to sometimes is Cobra's Market View. (I make myself read it sometimes since I have a yearly subscription and always forget to cancel it before it renews!! ha!) Have read his stuff for the last 5 years and he's always pointed this one out. Since 1996 (the last 20 years) there has been a minimum high-to-low 7.5% pullback EVERY YEAR without fail. While that obviously doesn't mean it is 100% certain to happen this year, and there is no easy way of predicting when this will occur - I think it is worth keeping in mind and being prepared for.
Here's his chart from a few days ago - a 7.5% pullback from Friday's close would be -163 points (SPX 2000ish) essentially re-testing the Brexit-news low.
Will 2016 be the first year in the last 20 which doesn't have a 7.5% pullback??
Haven't traded in what seems like forever and don't actively follow the market these days, but one of the few resources I still pay attention to sometimes is Cobra's Market View. (I make myself read it sometimes since I have a yearly subscription and always forget to cancel it before it renews!! ha!) Have read his stuff for the last 5 years and he's always pointed this one out. Since 1996 (the last 20 years) there has been a minimum high-to-low 7.5% pullback EVERY YEAR without fail. While that obviously doesn't mean it is 100% certain to happen this year, and there is no easy way of predicting when this will occur - I think it is worth keeping in mind and being prepared for.
Here's his chart from a few days ago - a 7.5% pullback from Friday's close would be -163 points (SPX 2000ish) essentially re-testing the Brexit-news low.
Will 2016 be the first year in the last 20 which doesn't have a 7.5% pullback??
