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Dow 20k-Is The Bull Market Over? I Say No !

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We reached the long awaited and long predicted DOW JONES 20k and have made serious progress to 20,500 ish.

I have been saying for the last two years that we will hit Dow 20k and when we do I will take all my positions off the table. Which is what I did just before New year.

Do I think this bubble is about to burst? It should but it won’t –┬ásince Wall Street is behind Donald Trump and dropping down or any hint of a correction will hurt his arrival in the eyes of the public who are much more concerned with the performance of the Dow and S&P as a reflection of the health of their economy than their European counterparts.

So what happens from here?

I think we will hit by the year end either Dow 21,000 or 22,000 but before we do that we need to have a dip back down to Dow 19,000 ish as the move up from 19k to 20k plus happened too fast and too furiously.

For the present it is likely we are where we should start to consider shorting the Dow and S&P, perhaps 20,600 ish is the very place where the fuel runs out of this furious rally after the arrival of Trump. Although it may go higher still before we retract.

I think It is time we went back down to 19k DJIA and build it up again to 21 -22 k.

The bull market is not over …not this year anyway !




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