Anticipating Multi-Month Run UP in US Equities
Although equities are getting short term overbought, I think another tremendous multi-month run is possible. Planning long, in fact kicking myself for not getting in Nasdaq 100 futures 4 days ago. Was following Dow, :cry:
Technically, dow just broke through the apex of the large symmetric triangle. This is indicative that the formation is, at least in my eyes, no longer valid. After a long bearish cycle it seems time for upside.
One thing I did check...fundamental wise...was a chart of PE ratios. Looks like we still have room to expand although things are not cheap: www.multpl.com/
Technically, dow just broke through the apex of the large symmetric triangle. This is indicative that the formation is, at least in my eyes, no longer valid. After a long bearish cycle it seems time for upside.
One thing I did check...fundamental wise...was a chart of PE ratios. Looks like we still have room to expand although things are not cheap: www.multpl.com/
Comment:
Trade tensions have resulted in what appears to be a good buying opportunity. I do think further short-term declines are possible and would love to see some resolution before going long, however.