Magazine Mania Monday: Run for Cover?
July 19, 2010  Analysis from Chris Kimble 

One the most famous (or infamous) magazine covers in the business world goes back to 1979, when Business week ran the cover story titled "The Death of Equities" prior to the greatest bull market in American History. Contrary market indicator? In retrospect, yes indeed, although it was a couple of years before the market took off.

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Here are two recent magazine covers that could eventually rival the Business week cover as the most memorable contrary indicator.

The April 19th issue of Newsweek ran a cover story titled "America's Back" — which marked the week when the S&P 500 hit rally high at the top of a rising wedge and at the Fibonacci 61% retracement level. Contrary market indicator? The market is down 10%, yet too early to tell.

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Speaking of early, will the cover of Fast Company featuring "The Invincible Apple" become a contrary indicator at the top of a 20-year rising wedge?

Way too early to tell on Apple, but let's keep an eye on this one.

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For feedback or more information, email Chris at KimbleChartingSolutions@gmail.com.