I see a lot of energy in this market. Price action has once again pierced a long term resistance level that originates at the 1987 high and takes in the 2000 high (thick red line).
Technicals on the monthly still have to fully unwind.
I will wait to see whether the DJI makes a higher low in the next cycle bottom or whether it breaks down lower.
If it makes a higher low, I expect a run to the upside.
Social, economic and political developments globally still favor the United States as a safe heaven for capital. Just not debt instruments but, rather, the stock market and/or sheer cash US$
Technicals on the monthly still have to fully unwind.
I will wait to see whether the DJI makes a higher low in the next cycle bottom or whether it breaks down lower.
If it makes a higher low, I expect a run to the upside.
Social, economic and political developments globally still favor the United States as a safe heaven for capital. Just not debt instruments but, rather, the stock market and/or sheer cash US$
