Did the Dow finally top out on Tuesday?

After a long wait, the odds seem to be turning in favour of the US stock markets having reached a top, says John C Burford. Here he looks for evidence in the charts.

I have been waiting and waiting for stock markets to top out. And it appears the odds now slightly favour the US stock markets having turned.

As you may know, I have been a stock market bear for some time, as I see the rally since the 2009 lows in terms of a bear market rally.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.