Stocks Stealth Bull Market Quick Update
Stock-Markets / Stocks Bull Market Jun 03, 2009 - 06:16 AM GMTIn response to a dozen email requests, this is a quick update to the ongoing Stocks Stealth Bull Market that began in early March 2009.
The most recent analysis of April 26th concluded that the Dow is targeting 8,750 by mid May 2009 which was expected to be followed by a significant correction of 14%, the Dow hit this target yesterday (Tuesday 2nd June) and therefore expectations are now for this significant correction to materialise as indicated by the original chart below.
However, I need to remind readers that we are in a stocks stealth bull market that has already delivered a powerful 35% gain to date, so whilst a stock market correction is expected into the end of June, it is still just a correction against the trend, that has been missed by virtually ALL analysts that either continue to re-write the rules in support of this still being a stocks bear market rally, clutching at straws such as contracting corporate earnings (old news) or attempt to re-write history so as to imply they saw this rally in their rear view mirror as I warned of at the beginning of April and which during this week was most evident in CNBC's "Mad Money Man" Jim Cramer attempting to re-write history to imply that he called the market bottom at Dow 6,500 as the below video illustrates.
My in depth analysis for the stock market that projects a trend for several months will follow my UK economy forecast update, to receive these on the day of publication make sure your subscribed to my always free newsletter.
By Nadeem Walayat
http://www.marketoracle.co.uk
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Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on the housing market and interest rates. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 250 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk
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