Acampora: Trump Rally Has 5% Pop Left

Prominent market technician Ralph Acampora thinks the stock market has more room to run over the near term, despite a trend that has seen the Dow steadily walk back from the psychologically significant level of 20,000.

Acampora told MarketWatch recently that the Dow Jones Industrial Average and the S&P 500 index still have another 5% rise in them over the next several months. …

“The market has been in a tighter trading range for what seems like forever, but from a technical standpoint, I don’t see any major deterioration [in the upward trend],” he said. “I think the market is marking time” before it heads higher, he said.

— Excerpt contributed by Jason Kelly

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Z-val: Ralph Acampora
Via: MarketWatch
Date: 1/25/17
Disposition: Short-Term Bullish
Dow on 1/25/17: 20,069
Dow on 4/25/17: TBD
Change: TBD
Judgment: TBD

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