The US stock market continues to rise as the Dow hit 21,929 today. Although it has been impressive, I would not be long the broad market at this point. I feel like the risk reward is not there anymore. I'm expecting a short term wave 4 down to around 20,000 and then 1 more explosion up to around 23,000 to complete wave 5:
Then it should top out and have pretty big correction, at least this is what I'm expecting. Don't take this post as trading advice though.. everyone trades at a different time frame and who knows, the Dow could go to 40,000 or something? It has already gone up for much longer than I expected.
Anything can happen at this point 🤞
In real terms, has to fall as the fed is raising rates.
Nominally, could go either way. It's just a political tool propped up by QE nonsense.