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"Godfather" Of Technical Analysis 'Nails' The Correction

In Q1 2007, the so-called "godfather" of technical analysis Ralph Acampora told a 'Goldilocks'-prone Larry Kudlow on CNBC that "I'm bullish, but I don't think I am bullish enough...there's new leadership." That call turned out to be very close to top-ticking the market before it's collapse. Fast-forward nine years and Ralph is back, proclaiming that Yellen has "lit a fire under the stock market... and the correction is over."

"Bear market" confirmed on the day of the lows... then 14.5% later "the correction is over" and "The trend is up."

h/t @NorthmanTrader

 

Two words - "nailed it!"

 

Of course, Mr. Acampora is not alone. Jim Cramer recently "nailed it" too...

 

 

Trade accordingly...