Chartists say: sell out of US markets now

According to Dow Theory, Wednesday 21 November marked the start of a long-term bear market in the US. Tim Bennett looks at why one of chartism's most reliable indicators is sending very strong 'sell' signals.

US stockmarkets are now officially in correction' territory, having fallen by more than 10% from their October highs.

But they could be set to fall even further if one of the most reliable signals used by chartists (who invest by focusing on patterns in markets and share prices, rather than fundamentals) is correct.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.