A mixed day with the Dow Jones down 10 points (-0.06%) and the Nasdaq up 1 point (+0.01%).
Over the last two years the Dubai Stock Market (DFM) has been one of the best performing stock markets in the world. It could do no wrong, surging higher on almost the daily basis. So much so that most market pundits were falling all over each other (just a few months ago) while arguing that the DFM is only going higher. Today, the DFM has entered an official bear market territory after declining over 20% in a span of a few weeks. That 1,500 support looks fairly solid.
So what?
Well, the bullish sentiment readings for the DOW today are more extreme than they were for the Dubai Stock Market back at its early May top. The VIX, various bull/bear indicators and the bear capitulation discussed on this blog is a clear indication of that. Take it for what it is. One day the DOW will top out and begin a massive bear market. Whether you want it or not.
This conclusion is further supported by my mathematical and timing work. It clearly shows a severe bear market between 2014-2017. In fact, when it starts it will very quickly retrace most of the gains accrued over the last few years. If you would be interested in learning when the bear market of 2014-2017 will start (to the day) and its internal composition, please CLICK HERE
(***Please Note: Due to my obligations to my Subscribers I am unable to provide you with more exact forecasts. In fact, I am being “Wishy Washy” at best with my FREE daily updates here. If you would be interested in exact forecasts, dates, times and precise daily coverage, please Click Here). Daily Stock Market Update. June 23rd, 2014 InvestWithAlex.com
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Daily Stock Market Update. June 23rd, 2014. InvestWithAlex.com Google