2/12/2014 – A positive day with the Dow Jones up 109 points (+0.61%) and the Nasdaq up 56 points (+1.18%).
Here we go again. Extremely bullish market pundits are out in force. Predicting the Dow 20K within a few months and all other kind of nonsense. Case and point: Here’s what can ‘slingshot’ Dow toward 20K: CIO Just as they did at all previous tops.
According to quite a few people the market has been consolidating over the last few months and is now getting ready for a break out. A few closes above 18,000 would do the job and subsequently skyrocket this market to 20K and beyond. In other words…..buy, buy, buy.
Unfortunately, I do not share in their enthusiasm. First, this period of proposed consolidation can as easily be viewed as a period of distribution. Right before a major down leg starts. There is no conclusive technical evidence either way. Plus, most market sentiment indicators are flashing an “overbought” signal. Most importantly, my calculations do not allow the Dow to go much higher at this juncture.
This conclusion is further supported by my mathematical and timing work. It clearly shows a severe bear market between 2014/15-2017. 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 2014/15-2017 will start (to the day) and its internal composition, please CLICK HERE.
(***Please Note: A bear market might have started already, I am simply not disclosing this information. 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. February 12th, 2015 InvestWithAlex.com
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