Zeroing In On Feb. High
The DJIA is less than 110 points away from it’s Feb ATH. We should exceed it and reach the 30,000 round number I have been calling for over the last few months. It will probably be here this month before the election, although one scenario would be after getting close to or maybe just exceeding the Feb. high the market stalls until the election. On news of a Trump and Republican lanslide the 30,00 celebration comes on Wednesday Nov.4th. The republic would be saved for 4 more years and the bear market in stocks would begin no later than January 2, 2021.
Fine by Me
🙂
I’m in roughly the same camp T/A wise.
Weeklies are overbought but can get more so.
I basically see a dollar down scenario prevailing into yearend (perhaps with a brief risk off first).
That will propel risk assets strongly. Could be a stim deal, no idea exactly why.
The bear mkt comes when the dollar decline reverses.
Could be a move out of anywhere, not just Eccles. I’m sure China is war gaming this out.