Last year when everybody thought that a market was crashing, I've made one prediction:
Which was pointed that no matter what people think - the market is strong and no fundamentals can change it for now at least.
The market denial of the Trump lead to a rally. Now people are thinking of him, thats he is not so good again. GET OVER WITH HIM. ITS NOTHING ABOUT TRUMP in the markets ;)
Also. If you want some conspiracy: He knew that market needed the correction, so he gave it to us with all this weapon/bomb stuff. With his next tweet he will return market to an up-run mode again. The market will say "it was fun, but i'm going up again"
.... while you miss that rally again ;)
So, the "fundamental reason" for the rally now is new Trumps Tweet:
Big TAX REFORM AND TAX REDUCTION will be announced next Wednesday.
— Hey, do you know when all this end and we finally drop?
— The market is totally rigged!
— This Gap will be filled, short short short!
— North Korea will eventually make it drop!
— Did you se the US DEBT??? Its short anyway.
We do not fall on such sentiment. We either go sideways or make short squeezes on that one.
People become less rational in such moments, make bad entrance into trades and got squeezed again and again.
Most of people are not EVEN long, trying to short this high and loose their money again and again. That's sad.
This now looks like exactly as 16-18 april. pls have a look
ULTIMATE LONG continuation
okay, it wasn't soon, but still ;)
We all wait for "Jackson Hole" conference, to use this as an the excuse for trading.
Beware of false spikes, algos, traps. Try not using leverage.
Or go to pub, grab some beer ;) return on monday.
We might end up ATH or at least break to 2460 zone very soon on such sentiment.
buy again 15-18 september (if panic spotted, like on the chart)
The ULTIMATE long had accelerated starting from september 20s and had continued till present time. There was no even flat corrections since than.
Anyway, that was a good year.
Yearly target of 2600 almost reached.
And you should get over with Trump already ;)