Market doesn't look good today and the Dow is looking dicey as...

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1ronnie

20,971 Posts.

1969

05/03/18

15:58

Post #: 31534552
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Originally posted by 1ronnie ↑

http://www.marketoracle.co.uk/Article61560.html

"In Summary:
This has been a great week. Why? Because it provides us a marker in the ground. We know where we are now within the bull/bear cycle. We are in the end zone. The market going up relentlessly every day over the past 3 months was disconcerting and nuts. The over throw tells us it was a speculative blow off, an upside climax. Climaxes can’t last forever and It finally met reality… that’s good, gravity finally asserted itself. The market can regroup and rise again, but this showed us the end is nigh. The froth of the everything bubble got blown off and if it does rally to its old high it will no longer have the juice nor conviction it had before. Some investors who were hurt by this downdraft are now scared and will use the rally to escape partially intact. Recall that retiring baby boomers can’t afford to get crushed again and this correction serves to bring them back down to reality. The ending process now can proceed. The market could still see higher highs, but it will become more narrow and the adv/decline will start to fade. The great thing is we know what comes next. Eventually the market succumbs to a ruthless bear market and the gold sector resumes its next phase of its bull."

The legendary investor John Templeton once said that "bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria”. So, now it looks like it was an euphoria phase of the nine-year-long bull market. Did it die over a week ago?

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Market doesn't look good today and the Dow is looking dicey as well technically so I wont be surprise to see up to another 10% correction (in the months ahead) to possibly the 22,000 support. The Trump tariffs obviously did not help , creating uncertainty on fears of a possible trade war or response from Europe/China. DYOR and take care!
http://www.marketoracle.co.uk/Article61703.html
2 Upvote

0 Great analysis

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