Tuesday , June 18 2019
Home / David Stockman's Contra Corner / Student Body, Left! After 7.5% Up In Six Days, It’s Time For The Chart-Monkeys To Scamper South

Student Body, Left! After 7.5% Up In Six Days, It’s Time For The Chart-Monkeys To Scamper South

Summary:
Always the contrarian, instead of expecting further strength in the market, the bearish BMO technician who last week predicted that a retest of the December lows now appears inevitable, Visch reminds his clients that the short covering rallies that occurred last Fall averaged 7 sessions with an average trough-to-peak gain of 7.28% "so if that’s any guide we’re right in the zone where this latest surge should begin to run out of steam." https://www.zerohedge.com/news/2019-06-11/charts-turn-ugly-were-right-zone-where-surge-should-run-out-steam

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Always the contrarian, instead of expecting further strength in the market, the bearish BMO technician who last week predicted that a retest of the December lows now appears inevitable, Visch reminds his clients that the short covering rallies that occurred last Fall averaged 7 sessions with an average trough-to-peak gain of 7.28% "so if that’s any guide we’re right in the zone where this latest surge should begin to run out of steam."

https://www.zerohedge.com/news/2019-06-11/charts-turn-ugly-were-right-zone-where-surge-should-run-out-steam

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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