"Tom DeMark Predicts S&P 500 Countertrend Rally: Award-Winning Strategist"
Award-winning technical strategist Tom DeMark predicts that the stock market will experience a countertrend rally that will likely exhaust itself in the near future. DeMark's analysis indicates that major indexes have recently reached bottoms, offsetting the tops recorded in July. He expects a retracement of the previous two-month decline, projecting an upside target of 4,466 for the S&P 500. DeMark emphasizes the importance of specific conditions being met for market tops and bottoms, noting that markets rarely bottom on good news or top on bad news.