From Distressed Volatility:

Tom DeMark, CEO of Market Studies, expects an 11.2%-16.8% decline from here in the S&P. He created the DeMark Indicators which identify levels of trend exhaustion on charts. In the segment below, DeMark said the daily, weekly, and monthly time series on the S&P 500 Index recorded a "13" or "major turning point" (exhaustive top).

He was on CNBC on 1/26/2011 predicting an 11% decline, but the unanticipated crisis in North Africa rebalanced the downside forces (market gaped higher). In addition, only the daily and weekly time series had a 13 at that time. He believes the delay will just make the fall more intense. For technical confirmation, DeMark needed to see...

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