Loading ...Nasdaq long-term update
Despite the recent unrelenting bullish price action, the nasdaq composite is only in the middle of its uptrend channel that has the exact same slope as the one that its previous secular bull market followed. We have seen nothing close to the blow off top kind of move in the previous secular bull market. This general stocks bull has got a long way to go.
p.s. Some where along the way, we should see a prolonged half-way consolidation pattern lasting for more than a year, like the period 1987 to 1991.
Thanks Schofield
Please don’t use “full size ‘ in media when posting a chart
Large is maximum
Agree that this is likely
Yep, and a straight line from bottom left to top right on a log chart represents an exponential rise in price. That’s why I prefer log charts over a longer time frame. It’s clear from this chart that we could easily see another double or more before we get a sizeable correction (and even that will end up being a ‘blip’).
Amazing isn’t it Northstar ?
We must be in Awe of this thing !
Stunning really. It is what it is, as they say.
I might agree with this trend continuance were it not for my doubts about the sustainability of efforts that brought us to this point since the ’09 solution(s). Sure the rise may outlast expectations (has already for me) but I think back on sentiment about Japan’s boom several decades ago (when I was in business school and their economy was envied) and the recent US housing boom excesses. Honestly I’m glad to see such hugely BULLISH sentiment in the markets – CNN’s fear greed is currently at 90%, for context here it is for period just 10-13. Of course doesn’t mean it can’t continue.
https://static.seekingalpha.com/uploads/2016/7/14/839258-14685390049953132_origin.png
If I had the slightest clue WHEN the party was going to end, I’d be in the SM but I can’t stop believing its a house built on sand. GL to all buying this market. There is still a lot of skepticism out there which will probalby fuel a higher SM, oh well.