Share this on:
About this iReport
  • Not verified by CNN

  • Click to view ronjaenisch's profile
    Posted August 28, 2014 by

    More from ronjaenisch

    Is The Summer Rally Over?


    In the prior forecast, stock prices had just experienced a steep decline. The New Andrews Pitchfork Indicator gave positive readings, the highest of which was a 4. At that time new all time highs were forecast.


    Prices have achieved that goal this week and traders are preparing for a fun labor day weekend.


    GDP was reported at over 4%. This supports the notion that the fed needs to increase interest rates. As the fed pulls back on QE, Euroland is gearing up for their version of QE, to prevent deflation.


    With all of this, plus an important classic technical analysis indicator signaling an important high this week......the question quickly will the stock market show a 15% decline?


    Yesterday the NAPI seen above showed a +2 signal. Signals at the end of an up leg that fail tend to signal a decline.

    What do you think of this story?

    Select one of the options below. Your feedback will help tell CNN producers what to do with this iReport. If you'd like, you can explain your choice in the comments below.
    Be and editor! Choose an option below:
      Awesome! Put this on TV! Almost! Needs work. This submission violates iReport's community guidelines.


    Log in to comment

    iReport welcomes a lively discussion, so comments on iReports are not pre-screened before they post. See the iReport community guidelines for details about content that is not welcome on iReport.

    Add your Story Add your Story