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The Magnetic Pull of Old Record Highs

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Betting that the stock market’s steepening surge will continue seems like such a sure thing by now that we should probably expect the downturn-from-hell to start momentarily. Actually, the 330-point leap the Industrial Average took on Monday exceeded two important peaks recorded on Feb 25 and Nov 8, respectively, implying that any pullback of less than a thousand points would be merely corrective. Alternatively, the blue chip average is getting close enough to October 3’s all-time high at 26,951 that the Indoos will start feeling its magnetic pull 200 or so points above current levels.

Please do not ask trading questions!

  • none April 2, 2019, 6:33 am

    INDU and major indexes and CL making major high today and the remaining few days here.

    Have a great day Rick.