Market timer Tom DeMark appeared on Fast Money Monday with a call that the market has topped for the year. He does believe there could be one last gasp rally – potentially to yearly highs – coming in the next two weeks but based on his mathematical models we're in full correction mode go forward. Tom is very popular in the hedge fund world, and the question is, as he becomes more widely followed will his methodology lose some of its effectiveness as more and more people follow it. Or will it be just the opposite.
Full video below – I'd google him and check out how it works if you are interested in the methodology, it strikes me as somewhat arcane but relatively accurate from what I've seen the past 3-4 years. DeMark's segment begins 1 minute in.
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