Monday, October 5, 2015

Reversal day on charts signals time to be bullish on stocks

SHARE PRICES TURNED VIOLENTLY AND SHARPLY HIGHER FRIDAY here in the US, in Canada and in Europe, and they have continued to strengthen in Asian share dealing. 

Further as believers in and followers of “Reversal” days on the charts we are this morning making the bold… indeed, for us, the very bold … statement that the bearish run in global stocks is over; that the bearish run to the downside in US shares is over and that we are henceforth to err bullishly of shares, diametrically opposed to the position we have had for the past several months wherein we erred steadily… almost relentlessly… bearishly. 

We made the change from manifestly bearish of commodity prices to one that was incipiently bullish of them several weeks ago, and we made the shift from having been even more manifestly bearish of crude oil for the past many months to one incipiently bullish instead, and we are now finishing the trifecta as we turn bullish of stocks.





via http://www.zerohedge.com/news/2015-10-05/bulls-beware-days-after-calling-bear-market-gartman-declares-bearish-run-global-stoc