Dow Approaching Cruising Altitude

Anna Coulling • Jan 17, 2020 at 2:29 PM EST

There’s no stopping US markets which continue to rampage their way higher, fuelled by the settlement of Phase One of the trade deal with China.

There’s no stopping US markets which continue to rampage their way higher, fuelled by the settlement of Phase One of the trade deal with China. And whilst many say the market cannot go any higher, the fact is it will as we have yet to see even the slightest hint the market makers are done with this campaign. In fact, the reverse is true, with the volatility of the 8th January delivering the perfect mechanism to shake the tree violently and pick up all the fruit which duly fell into their laps. A classic move with the ultra-high volume sending a clear and unequivocal signal of buying and therefore of what was to follow, which is now being delivered, as the three principle US indices climb ever higher. For the YM Emini, 29,000 was the first level, and 29,400 is now on the horizon. And as if a plane moving to its cruising altitude, 30,000 is on the horizon.

(Click on image to enlarge)

Disclaimer:

Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, stocks, commodities and forex markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, stocks, commodities or forex. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Past performance of indicators or methodology are not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.