Beware of Dow 26,734!

Elsewhere on the page you will find bullish forecasts for the E-Mini S&Ps and AAPL, the world’s most valuable stock. I’ll mention as well that the Dow is close to signaling a 1500-point rally to the 26734 target shown. That may sound quite optimistic, but if and when the Indoos get there I will be turning very cautious, since every trader on earth would be bullish as all get-out. Most bullish of all would be short-covering bears, ironically about to exhaust what little remains of their buying power just inches from The Top.  If Mr. Market is planning to set the hook, I cannot conceive of a better way for Him to do it. You can join the bullish stampede if you wish, but just remember to keep Dow 26734 in mind on the ascent.

  • none February 16, 2018, 10:13 am

    Have a great Presidents Day Rick!