Dow Approaching Cruising Altitude
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 ...
more
Comments
