The title of this blog is a statement made by my mentor, the legendary Ralph Acampora.
With so much speculation in the air regarding the 2021 stock market, the bull is still striking up with his mighty horns, but we’re also seeing a heavy dose of choppiness. The Teslas, the Apples, and the Googles don’t seem to have the same spike, but curiously the bull rages on after an eleven-year run.
Ralph Acampora, also known as the “Godfather of Technical Analysis” predicts we have now entered into a “Mega Market.”
Acampora has a long list of legendary accolades that compliment his 60-years technical analysis mastery. In his early days as an analyst, he would read over 1000 charts a day by hand. There were no computers, no stock screeners, and the Wall Street Journal only reported on weekends. Those days technicians were viewed as hysteria. Naturally, when Ralph started nailing monumental trades, he got promoted. No longer was he hysterical, he was now a bonafide witch.
This newfound price projection mapping became an interest of many. Ralph became the next professor/wizard of the college of Wall Street. He has spent over 49 years educating the greatest technicians on Wall Street.
Over his tenure, Acampora has made some astonishing calls.
For example: February 1st 2020 ‘I am looking at a 10% drop-- maybe a little more’ claimed Acampora. This is far before Covid had ever reached the US shores.
In 2013, Acampora was famous for calling “Dow Jones to hit 20,000 by 2017.” Low and behold, by January 30th 2017 Dow Jones hit 20,000!
Perhaps the largest prediction of Acampora’s career and arguably the greatest call to legitimize technical analysis history happened in June 1995.
The Dow Jones was trading right around 4500. His prediction was for the Dow to break 7000 by 1997. Low and behold come February 1997, the Dow hit its all-time greatest mark of 7000.
For his bold and successful prediction, then Prudential Securities CEO Hardwick Simmons presented him with a vintage red 1962 Corvette, wrapped in a white bow and with a license plate reading "Dow 7000."
His latest call references his book “The Fourth Mega-Market.” In his book he discusses post-war eras. Several of America’s seasons of bear markets were up-ended and up-trended by wars.
Following the bull war instituted market were “Mega Markets.” The major front-running stocks have seen years of bull market push. It's improbable to assume that the tech sector will continue to lead the pack. It’s not improbable to believe that other sectors of the market will no longer be taking a back seat. Acamparo believes that the pandemic coming to an end will have an end of war financial outcome. He calls it a “market rotation.” Just like at the end of the war brought about inflation and the rise of the Financial Industries.
There will also be a boom in other service industries (i.e., manufacturing, travel, consumer goods.)
Consider the magnitude of people just dying to work. When we’re finally over this thing we’ll see at least 3 or 4 years of 'Mega Markets.'”
d-seven is the President and Founder of FreeTradingVideos.com, Inc. dba Grok Trade and FreeOnlineTradingEducation.com. d-sevenis a publisher of market data via rich media and also has been published in several national trading publications. d-sevenis known to be a serial entrepreneur owning multiple companies in various fields.