Ever since an American president walked on the surface of North Korea, moon rockets are being tested in Florida, tanks are being prepared for the 4th of July parade in Washington DC along with a fly over by the Blue Angels.
I mean I really feel like I'm missing something. What's all the fuss about ? I understand firecrackers and trumpets sounding...but really
Both the S+P 500, and the Dow Industrials today rose to historic record all time highs, and I mean it wasn't even close, I mean they didn't even break a sweat getting there.
And the Sept S+P Futures Contract Closed above 3000 today, just in time for the 4th of July.
Pardon me if the shock and awe of all of this, doesn't make me want to hide under a very big rock until all the shouting, and festivities are very well done.
And by the way,rumors of mass bears killings have not even been checked out to confirm hat happened as the big party wont stop now, and continues to roll like its 1999.
I apologize Something I'm told you should never do. But I just don't understand any of this... at all.
I hope everyone has a safe,and joy filled 4th of July.
As this continues grinding higher day after day, I get the feeling that when the real red wave arrives, it will be so swift and so powerful that there may be nothing but dust left to discuss when it has completed it's assault.
thelion01
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and everyone still expect Feb cut rate to bring this bubble even higher! LOL
If you subscribe to Elliot wave theory then the presumption is that wave 3 cannot be the shortest wave and this wave 5 will terminate at no higher than 3005. By that supposition we are simply fulfilling the necessary leg up on low holiday volume and this recent leg up is more or less a formality. If it moves beyond that point then indeed all hell has broken loose.
As long as you place your stop on the books ,in case of sudden sharp overnight bearish price reversal.
When a market rallies past strong resistance,there is usually a retest of the breakout base point.
In this case, that would be the SPX low of 6/26/19 at 2912.99
Best of luck here.
mstable
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Things can only get better!
It’s not possible for the market to go down. If the economy is faltering stocks can only go up to the moon because the Fed will become doveish and everyone will become rich anyway. If the economy stays the same then stocks can only go up, as they do every day reaching new highs day after day despite any fundamentals or news thrown around (it’s all fake anyway...) and everyone will be rich no matter what. If the economy does really well despite the whole world tanking and falling into chaos around it, well that’s the mercantilist dream scenario, stocks can only go up and everyone (provided they are American) will be rich.
Indeed, the only thing that might possibly go wrong for the market it seems would be for the US economy to do really well, the world to be at peace and do really well, good governance and good economics to come into play... then I’m afraid stocks and everything else in the asset balloon that has been subject to hundreds or thousands of percent inflation in recent years will come tumbling down. But don’t worry, that will never happen. Wars and tariffs and the Treasury and the CIA are all at hand to make sure the US is number one, everyone else zero or dead.
That’s why everyone in America will vote for Trump. Forever. All Americans will be rich rich rich and everyone else poor poor poor - or dead - because it’s all completely under control.
Don’t worry, be happy! Forget 3,000, more likely we’ll be at 30,000 by year end!!! You can completely bank on that. We have the Fed and the President so nothing can go wrong.
This could be 1987 all over again, I'm being advised by someone who traces stock market movement using Elliot Wave
The market can rally with the absolute perfect goldilocks scenario into August 2019.
Past that point, I guess we are in no man's land.
No mention made of a crash, as of yet.
Thank you, as always for your cutting and telling market observations..