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Market Extra: ‘Godfather’ of chart analysis says ‘damage done to the stock market’ is much, much worse’ than anyone is talking about

Altaira Wealth
Ralph Acampora is bearish on stocks

Prominent market technician Ralph Acampora says the stock market is in bad shape and it’s worse than many on Wall Street investors appreciate.

A pioneer in the field of chart-based trading, Acampora said the technical damage that has resulted in the Dow Jones Industrial Average DJIA, +0.97% and the S&P 500 index SPX, +0.74% erasing all of their gains for 2018, and the Nasdaq Composite Index COMP, +0.70% falling into correction territory—usually characterized as a decline of at least 10% from a recent peak—will take months to repair.

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