Things seem to be back on track after yesterdays ‘Trump Dump’. Each time I look at a chart, I get $1560-$1625 as the conclusion for this move. Fibonacci numbers seem to fit this pretty well too.
My tactic is to just hold on tight and weather the inevitable large pullbacks and extended sideways moves that will come. Why ? The 8/16 year cycles are really the only ones I care about, and in the current global financial situation, shocks are more likely to be to the upside. I find it more plausible that we just surge on to $1800, rather than drop back below $1300. Cautious traders who got in when I posted the falling wedge breakout, should be sitting on some very good profits, and may want to think about locking some of those profits in as we close in on $1600. We could bounce about between $1600 and $1800 for quite a long time. A break above $1800 would signal the final assault on the old highs.