How much higher will this " thing " go???? 27 December 2019
Hi all,
What an amazing run in 2019! I would describe it as " insane " with the US stock indicies. Now that we are at these incredible highs, where to next? This is beyond the beyond.
Technically, I can see a 161.8 fib level @ approx 26,760 ish. Personally, despite my love for shorting, i don't have (yet) a clear indication of a pullback. It is possible however that it may happen soon. Heck, it may even happen in early January. End of the day, i make no call (right at this very immediate moment). But i am watching very closely.
I know momentum indicators may not mean much to many (and arguably at times they can confuse the overall picture or analysis undertaken), it is still interesting to note that the RSI is ridiculously high.
Although this post may be of little benefit to most, i believe it is highly worth watching the DOW. Perhaps a new year may mean a new theme, or perhaps a pullback of sorts!
Thanks for reading. Merry Christmas (or happy holidays) and a very happy new 2020 year to you all.
bazzman78tv
What an amazing run in 2019! I would describe it as " insane " with the US stock indicies. Now that we are at these incredible highs, where to next? This is beyond the beyond.
Technically, I can see a 161.8 fib level @ approx 26,760 ish. Personally, despite my love for shorting, i don't have (yet) a clear indication of a pullback. It is possible however that it may happen soon. Heck, it may even happen in early January. End of the day, i make no call (right at this very immediate moment). But i am watching very closely.
I know momentum indicators may not mean much to many (and arguably at times they can confuse the overall picture or analysis undertaken), it is still interesting to note that the RSI is ridiculously high.
Although this post may be of little benefit to most, i believe it is highly worth watching the DOW. Perhaps a new year may mean a new theme, or perhaps a pullback of sorts!
Thanks for reading. Merry Christmas (or happy holidays) and a very happy new 2020 year to you all.
bazzman78tv
bazzman78tv
Updated December 2021
Updated December 2021
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.