Saturday, September 15, 2012

Tony Caldaro - Bull Market High Mid-Late 2013

www.caldaro.wordpress.com  

In June Tony Caldaro wrote: "For every $20 bln the FED purchases in long term debt the stock market rises 1%", and projected 1556 for the SPX (HERE). Now with QE3 out in the open, he outlines in his latest Weekend Update: 

 ... we will maintain our time window of mid-late 2013. Yet we believe the bull market will end about one to three months before QE 3 ends. The reason for this is the market’s previous reaction to the ending of QE programs. The market initially topped in Apr10 when QE 1 was ended in Jun10. The market also topped in Mar/May11 when QE 2 was ended in Jun11. The market is quite likely to repeat this same pattern. 

In regard to price, we will again maintain our SPX 1536 to 1556 target. Yet we believe this is now a minimum range rather than a maximum range for a bull market top. In fact, we would not be surprised if the market approached this range in 2012. Should this occur our bull market price target will be raised to SPX 1650-1700.