Tuesday, July 15, 2014

Technician John Kosar: The Odds Favor a Correction in the Third Quarter

by James J Puplava CFP
Financial Sense

Jim welcomes back John Kosar CMT, Director of Research at Asbury Research LLC. John sees the odds favoring a correction in the third quarter and advises to have a plan in place to take advantage of any corrections. John also notes that the market will be more vulnerable to mishaps after the Fed taper ends later this year. John gives two technically significant numbers for the Dow; 16600 on the downside, and 17500 on the upside. Everything starts with interest rates John points out, so keep an eye on their direction. Also this week, Ryan Puplava has the Market Wrap-up, Erik Townsend covers commodities, and Tom Smith discusses a slippage in investor sentiment, and has some takeaways on the Fed minutes released this week.
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