As we kick off the second half of 2017 the Dow Jones industrial average index has today climbed 200 points to reach an all-time high of over 21,500. This seems to be something of a blue day for the US stock market with the banking industry now joining the party. As we have covered in some of our more recent articles, Fed stress tests were passed by all banking businesses in the US suggesting they are on a much firmer financial footing than many had expected. Read full article here
As the tech shares fall the defensive stocks such as banks pick up the slack and vice versa - I cant really see the market falling too far in the short term.
https://www.investing.com/indices/us-30-technical gap in between Daily 100SMA-EMA and Daily 200SMA-EMA is expanded. DowJones correction upto 21000-20800 or target Daily 200SMA short-term.
https://www.investing.com/indices/us-30-technical this is technical format now. Sharp downfall once dowjones moved below Daily 50SMA-50EMA .
The experts have been predicting a collapse for over a year now - one day they might be right! Seriously though, you get the impression that the higher the markets move in the short term the larger the eventual far. A slight tweak down in economic growth expectations will decimate some of the optimistic earnings growth expectations in the short to medium term. You have been warned!
I am a short-term trader and about collapse , my old posts are available on Bullmarketboard where targets 21000-22000 has given and successfully achieved. I never said market will collapse, I said there is Technical correction is ahead. My call is active until 15th. Sept. 2017. I gave date for my call . Like experts don't need to chant collapse collapse..... for a year. Donald Trump asked Europe for rate hikes month ago but Europe postponed that so it is another opportunity for traders to create longs after correction is over. In Asian markets, strong buying in Gold happened in last quarter. Gold is bullish and market still waiting for European rate hike when EURUSD at 52 week high so correction in Global equity markets is ahead. DAX already trading near Daily 200SMA-EMA. Another side USDJPY still trading near 109. Until dollarindex turn bullish correction in Global Equity markets will get continued. If experts are chanting collapse collapse for a year then who will call them experts ? They are just investors who stuck to their short positions.
No 10% is not possible. At current stage Long-Term format it is showing Dow Jones will remain in limited range, I will post updates after first target Daily 200SMA achieved.
