The ‘Godfather’ Of Market Analysis: ‘Damage Done To The Stock Market Is Much Worse’

by | Oct 31, 2018 | Headline News | 16 comments

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    The so-called “Godfather” of market chart analysis said that the damage already done to the stock market is much worse than most people are talking about. Ralph Acampora, a prominent market technician, says the stock market is in bad shape and it’s worse than many Wall Street investors appreciate.

    From a technical perspective, the damage that has been done technically to the stock market is much, much worse than people are talking about,he told MarketWatch in a phone interview on Tuesday. Acampora also said that the technical damage that has resulted in the Dow Jones Industrial Average and the S&P 500 index erasing all of their gains for 2018, and the Nasdaq Composite Index falling into correction territory (which is usually characterized as a decline of at least 10% from a recent peak) will take months to repair.

    “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. “All the leadership is getting crushed,” he said. He added that he feels that the entire market will go into bear territory soon.

    “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 according to MarketWatch. He speculates that the market may not be healed until around the first quarter of 2019. Acampora said that the current dynamic in the market was eerily similar to the stock-market crash of 1987 when the Dow plunged a historic 22.6% in a single day on October 19 of that year.

    The Dow would have to fall another 3,162 points, or about 13%, from its current levels to close 20% below its October 3 record close of 26,828.39, as of Tuesday late-afternoon trade. Additionally. Acampora is not the only market analyst to feel that the bear market is upon us.  Peter Schiff actually says we are already in a bear market, so all news is bad news.

    Schiff says that the media’s talking heads are simply using the tariffs as an excuse. The real truth is that most people are in a selling mood. “Stocks are expensive. The bull market is over. It’s now a bear market. People want to get out. People are allocating out. Growth is slowing whether people want to acknowledge it or not,” said Schiff. -SHTFPlan, April 2018

    Michael Wilson, Morgan Stanley’s chief United States equity strategist, said he believes the market is undergoing a “rolling bear market.”


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      1. Nothing to fear if you don’t gamble your money in the casino
        What they say The house always wins

        • True.Ponzi scheme

      2. I don’t personally believe that very rich people were ever taking random chances, without some kind of legal guarantee. This is not played like a casino.

        • Beaumont, remember that it’s a big club bit you and I aren’t in it! They will exit before the crash leaving the little guy on the hook.

          • From the late George Carlin —
            “You’re just another American who is willfully ignorant of the big red, white and blue being shoved up your a5shole every day… The owners of this country know the truth… it’s called the American dream because you have to be asleep to believe it!, etc, etc, etc.”

            I don’t claim to have an inside line, per se.

            But, the doctrine of Lucifer is akin to voluntaryism.

            And, the doctrine of Satan is akin to opportunism.

            People who just take it are already part of the club.

            Unless you’re an excellent trance channeler, an investment strategy might be a matter of middle school math and regulatory capture, ie. are you entitled. To how much.

            It was perversely amusing, when Carlin said your kid is ugly. Noone really wants to see the pic. I lol’d at some of this.

            But, how are people supposed to thrive on a diet, of just this kind of cynical thinking, 24/7/365 and on leap days. Someone who jerry rigs the system is (at least, barely) more honorable than the defeatist, in my worldview, who gives up and dies.

      3. Not surprised.

      4. Is there anything under capitalism that isn’t fixed?

        • Capitalism is pretty pure at the bottom, the higher it goes the more its rigged. Communism is rigged all the way through.

      5. The Difference Between Climate Change Caused By Humans and Those of Milankovitch Cycles

        Paul Craig Roberts

        As I knew would happen, my review of the very serious and heavily documented book, Unprecedented Crime ( ) resulted in condemnations from the fossil fuel industry’s trolls and from libertarians who think that global warming is a scheme for government to seize more power over private industry. Personally, I wish the fossil fuel trolls and libertarians were correct, but there is scant, if any, evidence on their side. I must say that I am discouraged that the oligarchs’ disinformation campaigns are again taking precedence over fact.

        Global warming deniers, which includes honest, non-ideological people, say that the planet has been subjected to many warming and cooling periods, and that it is only natural that the cycles are contining. Climate scientists know this very well, and that is what disturbs them. The fact that the planet has warmed and cooled before does not mean that there is no danger.

        Searching around for a simple explanation for readers, I found this report ( ) from a CNN meteorologist in 2015. (Note that the 0.85 centigrade rise in temperature in the report is, only 3 years later, up to 1.1C.)

        The real question is: why are man-made greenhouse emissions since about 1880, the onset of the industrial era, more dangerous than those of the Milankovitch Cycles? The answer is: the speed of change.

        Here is the gist of the CNN report:

        Scientists understand the natural processes behind the previous warm and cold periods that lead to ice ages. They occur in regular patterns called Milankovitch cycles. These cycles occur because the Earth’s orbit around the sun is not constant.

        The shape of the orbit changes, the tilt of the Earth on its axis changes and even the direction of the axis changes over time. All of these changes result in varying amounts of energy (i.e. heat) that the planet receives from the sun. That, of course, determines how warm or cold the planet becomes.

        While these cycles do impact Earth in much the same way as we are seeing now, they happen very, very slowly.

        These cycles take place on 100,000 year time frames, and the amount of warming we have seen, even though it is “only” about 1.5°F (0.85° C) since 1880, would take many thousands of years to occur if the process were occurring purely naturally. Also, when you plot these orbital cycles out, we should be in a “cooling” phase of the cycle — not warming.

        The other important fact we learn when looking at these long-term cycles is that greenhouse gases, namely carbon dioxide and methane, move up and down with the global temperature. When greenhouse gases are high, the Earth is warm, when they are low, the Earth is cool.

        But again, when these changes are occurring naturally, they take thousands to tens of thousands of years to occur, whereas humans have caused this to occur in just over 100 years. In fact, humans have pushed the level of carbon dioxide in our atmosphere to levels not seen in millions of years. The last time levels were this high, sea levels were several meters higher and temperatures were several degrees warmer.

        So yes, the climate changes naturally, in much the same way it is changing now, but it happens much, much slower. That in turn gives the Earth, and its various life forms, time to adapt. When these changes occur rapidly, you can have mass extinctions.

        Notice that the man-made warming is sufficient to raise temperatures even though we are in line to be in a long term cooling period. If we were in a long term warming period, the combination of long term warming with man-made warming would present an even larger challenge.

        Here is another explanation of the difference:

        Today the world is rushing to destruction on two fronts. One is human-induced climate change, a threat that the fossil fuel industry and its hired guns have managed to hide from the public and the unfortunate President Trump. The other is the rush to nuclear war that the alliance of the Democratic Party, the Zionist Neoconservatives, and the military/security complex has unleashed.

        It is extraordinary how little attention these threats receive.

        Share this page

      6. Capitalism is pretty pure at the bottom, the higher it goes the more its rigged. Communism is rigged all the way through.

      7. A. Do you believe in Reversion to Mean ?
        B. What is a historically accurate PE ratio for a mature company ?

        Companies like Salesforce and Amazon have PE’s over 100 & will drop 80% + when the market reverts to mean – or over-shoots.

        Apple has a PE ratio of only 20, so their stock won’t fall more than 25% – unless people stop being able to pay $1000 for a phone with a camera attached.

      8. I’m putting a scooter motor on my double decker shopping cart. Eat my dust, suckers!!!

      9. The stock market doesn’t matter to me because I invest if FOOD!

        I just cleared off my 5 bookshelves to make room for all the food I am going to jar this winter. Space is at a premium!! For the next few months I am going to dehydrate and can, dehydrate and can and dehydrate and can.

        So you guy prepare yourselves for me posting about my trials and tribulations. Consequently, I apologize in advance.

        • Sorry, it’s “in” food and guys plural.

          • Hope to hear more. We did some chicken soup that turned out great! The down side is that the beef stew did not so we just ate it. Any tips are much apricated.

      10. How many economists would you have to lay end to end in order to reach a consensus?

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