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Can The Stock Market Really Be Predicted? Woody Dorsey Has Predicted Market Reversals Weeks In Advance For Over 1900 SPX Points-Since September 2014
MARKET ENVIRONMENT: by Woody Dorsey: I suggested that the decline might end towards the end of last week: The weird divergent news, optimism and market behavior of this Summer was unusual and fits with the potential for a very long term cycle cresting. I am trained to view events and interpret them in terms of investor psychology and Market Energy. Markets are “Loco.” But, actually, they always are. They are never logical. Enjoy the Wild.
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Near Term Diagnosis: Sentiment is 47% Bullish today. Last weeks’ 0% and 2% were extreme readings which did identify a panic nadir.
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Interim Term Diagnosis: “The divergences in Sentiment, Advance Decline statistics and a multitude of negative market stories argued for a cogent Interim High in place.” It was a telling break but it is way too simplistic to just take a one dimensional market view. Expect twists and turns. The market is very messy.
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Long Term Diagnosis: Equities have likely registered a Cycle High. That is not necessarily relevant to trading decisions. There is a Low due in 2022.