THIS, my friends, is a parabola.
It is a glorious sight, but parabolas never last forever.
On the chart I've marked levels in red, every 1000 points up to 30k: 25k,26k,27k,28k,29k,30k...
I'm not such idiot to call THE top on the market. I'm simply saying my understanding of technical patterns leads me to safely conclude that this move will shift and a new pattern will form. We now need to watch closely for this shift.
What will give us a clue that it's near? A near term topping pattern. This MAY be preceded by a fast run up, where price eats away at the levels marked in red like pac man on crack. We will need to see how price handles these levels.
IF a temporary high is temporally close, it will fall short of 30k, in order to trap late longs who buy expecting a pop above 30k. My best guess is that this will be somewhere around 27k to 28k.
Let's look at the big picture. The Dow is not finished - far from it. Since the 1970s, the markets have been pricing in a space-age, where we as a Humanity explore the galaxy and beyond. However, the angst against Trump will intensify; there is a maniacal and hysterical element that does not want the technological/spiritual evolution of Humanity to occur, and will do anything to attempt to repress anything that does not fit its status quo. Destabilization in American politics should result in some foreign selling of US equities, and we should expect this to manifest soon.
If you bought in 2008 and you're sitting tight, remain in your deck chair and sip another kale juice and martini. If, like me, you weren't in the markets in back then, and like short-term setups, stay long... but BE WARNED. THE PATTERN WILL SHIFT IN 2018, perhaps sooner than later.
(Some may say - but what if we just keep going? Quick answer: markets require momentum to move. If this move were to extend then it would surely climb much higher, but would be limited in price and time. In other words, it would imply a crash sooner rather than later. Since I see no fundamental basis for this, this possibility is off the table for me.)
It is a glorious sight, but parabolas never last forever.
On the chart I've marked levels in red, every 1000 points up to 30k: 25k,26k,27k,28k,29k,30k...
I'm not such idiot to call THE top on the market. I'm simply saying my understanding of technical patterns leads me to safely conclude that this move will shift and a new pattern will form. We now need to watch closely for this shift.
What will give us a clue that it's near? A near term topping pattern. This MAY be preceded by a fast run up, where price eats away at the levels marked in red like pac man on crack. We will need to see how price handles these levels.
IF a temporary high is temporally close, it will fall short of 30k, in order to trap late longs who buy expecting a pop above 30k. My best guess is that this will be somewhere around 27k to 28k.
Let's look at the big picture. The Dow is not finished - far from it. Since the 1970s, the markets have been pricing in a space-age, where we as a Humanity explore the galaxy and beyond. However, the angst against Trump will intensify; there is a maniacal and hysterical element that does not want the technological/spiritual evolution of Humanity to occur, and will do anything to attempt to repress anything that does not fit its status quo. Destabilization in American politics should result in some foreign selling of US equities, and we should expect this to manifest soon.
If you bought in 2008 and you're sitting tight, remain in your deck chair and sip another kale juice and martini. If, like me, you weren't in the markets in back then, and like short-term setups, stay long... but BE WARNED. THE PATTERN WILL SHIFT IN 2018, perhaps sooner than later.
(Some may say - but what if we just keep going? Quick answer: markets require momentum to move. If this move were to extend then it would surely climb much higher, but would be limited in price and time. In other words, it would imply a crash sooner rather than later. Since I see no fundamental basis for this, this possibility is off the table for me.)