Ralph Acampora: S&P 500 Breakout Significant – Begin to Accumulate

Jim welcomes back legendary technician Ralph Acampora, Director of Tactical Investments at Altaira Wealth Management. Ralph believes the recent breakout to new all-time highs in the S&P 500 was significant, after over 18 months of churning and moving sideways. He noted that we have been in a “stealth bear market” and now thinks we have a lot higher to go from here. Ralph equates this period to that of 1994, where the market churned for a long period before breaking out. He believes the next leg up will be broad-based among many sectors, and thinks investors should begin to accumulate. Ralph also comments that gold is now in a longer term favorable trend, and notes that gold and stocks can both go up at the same time. Also in this segment, Ryan Puplava has this week’s Market Wrap-up, and Greg Weldon covers gold and the commodities markets with Jim.

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