IXIC is testing the 100-day moving average. Investors are worrying about the rising American bond yield and the potential of government shutdown. The American government has experienced temporary shutdown multiple times in the past, so in the long run it's not a big deal. For the short term, IXIC might drop to 14200, testing the old 16 Feb 2021 resistance line, which now serves as support.
Investors will soon realise this is not the end of the world and the noise traders will pour more money into the market from November 2021 to February 2022. The noise traders have more extra cash in the Thanksgiving-Black Friday-Chistmas-New Year season, which they will put into gambling-like activities e.g. leveraged stock option day-trading, leveraged crypto futures high-frequency trading and ESG fund buying frenzy. If you know how to time the market, their loss is potentially your gain.
As I have said before, the big picture remains extremely bullish, due to unlimited quantitative easing and heaps of novice investors jumping into the stock market. Those novice investors will spread the good news and get more of their naive family and friends into stock investing or speculating. IXIC will surely break 20000 next year, but when the Fed finally announces the dreaded news of rate hike there might be a huge crash.
IXIC will probably go up to 30000-50000 in 2024, simply because the novice investors have never experienced a major collapse in their entire investing career. They will push the stocks to unimaginable heights, then suddenly panic and painfully realise that no bullish trend could run forever. It's really all about fashion and popular story. Buying stocks is becoming more and more fashionable.
Investors will soon realise this is not the end of the world and the noise traders will pour more money into the market from November 2021 to February 2022. The noise traders have more extra cash in the Thanksgiving-Black Friday-Chistmas-New Year season, which they will put into gambling-like activities e.g. leveraged stock option day-trading, leveraged crypto futures high-frequency trading and ESG fund buying frenzy. If you know how to time the market, their loss is potentially your gain.
IXIC will probably go up to 30000-50000 in 2024, simply because the novice investors have never experienced a major collapse in their entire investing career. They will push the stocks to unimaginable heights, then suddenly panic and painfully realise that no bullish trend could run forever. It's really all about fashion and popular story. Buying stocks is becoming more and more fashionable.
