May 21st Letter: I’ve been computing my PTI on a daily basis since the early 1960s. In 50 YEARS THIS IS THE MOST DECISIVE TOP I can ever remember….
May 19th Letter – “If the May 7 lows are violated by the Industrials and Transports, I expect some severe downside action by the stock market. If that occurs, I would expect traders and investors to panic.
I believe it will affect the sentiment of not only investors, but the sentiment of the whole nation. The current rosy optimism could fade and reverse in a week. It could fade because it is built on BS propaganda from the government and hopes on the part of the populace. The 14-month stock market rally has served to brain-wash the nation. So question — isn’t the long 14-month rally “a prediction of better times ahead?” My answer is, “It could be — unless it’s a bear market rally.”
I’ve been asking, pleading, cajoling, even threatening my subscribers to get OUT of the stock market. What if you haven’t moved? In this business, it’s never too late to do the right thing. Get out and stay out.”
‘Major Crash’ Likely If Stocks Break May 7 Lows, Russell Says
May 18 (Bloomberg) – Investors should sell U.S. stocks because the market is at risk of a “major crash,” Richard Russell, editor of the Dow Theory Letters newsletter, said in a note to subscribers today.
The decline would follow should the Dow Jones Industrial Average and Dow Jones Industrial Average fall below their May 7 levels, he said. They have risen 1.3 percent and 2.8 percent versus their closing levels that day.
“If I read the stock market correctly, it’s telling me that there is a surprise ahead,” Russell wrote. “And that surprise will be a reversal to the downside for the economy, plus a collection of other troubles ahead.”
……read more HERE