{"id":199243,"date":"2010-01-19T11:39:00","date_gmt":"2010-01-19T16:39:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/jeff-saut-stars-aligning-for-a-market-correction-2010-1"},"modified":"2010-01-19T11:39:00","modified_gmt":"2010-01-19T16:39:00","slug":"jeff-saut-stars-aligning-for-a-market-correction","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/199243","title":{"rendered":"Jeff Saut: Stars Aligning For A Market Correction"},"content":{"rendered":"

Raymond James strategist Jeff Saut, generally a bullish analyst, continues to sound concerns<\/a> over a correction in his latest note:<\/p>\n

The call for this week: The solar eclipse came and went in “Neverland” between 11:06 a.m. and 2:00 p.m. last Friday with an attendant stock slide that should have stopped participants out of our remaining index recommendations. And, despite all the “Tinkerbell clapping,” the SPX is virtually no higher now than it was after the “opening day” rally on January 4th. Moreover, the number of stocks above their 10-day moving averages (DMAs) continues to shrink, which is the type of action typically seen preceding a stock market correction. Also, the 25-day put\/call ratios are at levels consistent with short-term negative conditions, while Friday’s close left the SPX below its recent reaction lows, not to mention below its 10-DMA. Then there is “Dr. Copper,” the metal with a Ph.D. in economics, which recently recorded a 12-month rolling rate of return in excess of 150%. Historically such a “copper cropper” has marked a “trading top” in copper and telegraphed caution for the equity markets. All of this raises the question, “Is this the week participants quit clapping their hands and Tinkerbell falls back to earth?”<\/p>\n

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