‘Godfather’ of chart analysis says damage done to the stock market is ‘much, much worse’

[Altavest_Erik]

“I’ve been a bull for a long, long time and like everyone, I was waiting for a correction but this is something different,” said Acampora, who many chartists refer to as the “godfather” of technical analysis.

“All the leadership is getting crushed,” he said.

Acampora said he believed that the entire stock market itself would go into a bear market and said the current dynamic in the market was eerily similar to the stock-market crash of 1987, when the Dow slid a historic 22.6% in a single day on Oct. 19 of that year.

“Honestly, I don’t see the low being put in yet and I think we’re going to go into a bear market,” he said. He speculates that the market may not be healed until around the first quarter of 2019.
https://www.marketwatch.com/story/g...worse-than-anyone-is-talking-about-2018-10-30

 

[Frederick Foresight]

What is Acampora's track record?

 

[tommcginnis]

What is Acampora's track record?

This is him a few weeks back:
“I'm not looking for the end of this secular (long-term) bull market. We’ve got a couple of years left, theoretically. But we will have cyclical corrections or cyclical bear markets. Now, if we're in the process of a top … I'd say it'd be a cyclical (shorter-term) bear market within a secular bull market. … The fly in the ointment right now is what really happens with these talks, and what happens domestically and internationally with tariffs. If that works out, I think we’re going to get another run to the upside. I’ll leave the door open for that.”

Good Lord.

 

[Laissez Faire]

When reached on the phone, the market technician said he was painting his barn to avoid “the agony of watching” the market’s gyrations. “I don’t want to watch the market get sloppy again, so I figured that I’m better off painting.”

Seems like a better use of his time than being involved with the markets. Stick to painting.

 

[Altavest_Erik]

He speaks like anyone who is regulated, with a lot of caveats. From a few weeks back, to now, he is being consistent though. His major theme seems to be that we're still in the midst of a pullback, until Q1 2019, and then the longer term bull will resume. We shall see.

 

[Handle123]

And like anyone else, we all not perfect.

https://www.cnbc.com/2018/01/04/ralph-acampora-i-am-so-bullish-i-have-to-sit-down-and-calm-down.html

 

[Spooz Top 2]

Certainly worth watching the 5 Horseman... but Ralphie boy has always been Wall Streets biggest fade back in the day....

 

[murray t turtle]

Certainly worth watching the 5 Horseman... but Ralphie boy has always been Wall Streets biggest fade back in the day....

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I wish the market moved as well as he projects, it would be much easier to be a billonaire. I see his charts , dated FEB 2018.Good line charts,good TA,but he is bearish from 1962-1982,LOL And bearish from 1997 to 2017.LOL BUT he did get much of the rest of the bull market right; so as ''good ''as his line charts are; he will never take the place of IBD or Stock Traders Almanac.
Some long trends are still looking good, small ETFs; and if you bought GE IPO, still good uptrend??
Sorry GE CEO bought 2 million GE stock , oh well, good thing he can afford to lose a lot.NOT sure what IBD newspaper meant this spring with a shattered GE[ chart] like a lite bulb??