http://www.cbc.ca/news/business/stoc...pple-1.3763837
Apple shares hit 2016 high, bolstering Dow
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http://www.cbc.ca/news/business/stoc...pple-1.3763837
Apple shares hit 2016 high, bolstering Dow
Following the recent new highs, impressive, but then breakdown below the old high, DOW finds support on the steep high/low trend line. Will it hold? 17,100 says no. 18,350 retest old high says yes. 18,000 is the now battle line.
Weekly chart
Attachment 8309
Zooming in to the Daily chart
Attachment 8308
Yes Baa Baa 18000 is going to be battle line. I completely agree with you.
Support levels loom 18,000 for bullish traders to buy the dip. I believe bullish traders or investors will get some position near 18,000. My medium term target remains to the upside towards 19000 and it can stretch close to 20000.
Analysts have raised their price targets for Dow stocks in recent months because they expect earnings growth in the first six months of 2017.Dow could climb on the strength of a few key stocks and sectors.
http://blogs.wsj.com/moneybeat/2016/...get-dow-20000/
DOW pulled back perfectly Sept 22 from a test of the falling ST resistance down-trend line. Now it's either on the Feb-Jun rising support trend line (arithmetic scale), or broke down through that same support trend line (log scale). 18,000 support in play again.
Everybody has their own forecasts. We have to stay with our own estimation.
According to following link DOW should touch around 19000 by February or March 2017.
http://longforecast.com/stock/dow-jones-forecast.html
DOW JONES FORECAST FOR 2016 AND 2017
http://www.fxempire.com/indices/dj-30/forecast
Dow Jones Industrial Average 30 Forecast
There is a possibility that DOW can break 18,000. At least it should reach closer to it.
Had a dream run with all this pre-election volatility. Tripled my investment in the last month mostly trading the DOW, Gold, GPB & AUD/NZD cross.
Went big on the DOW twice around the lows in the last few weeks only to see big rallies including last night.
I'm now out except for a small posi in AUD/NZD & WTI.
Clinton wins we see another rally to sell into.
Trump wins, will stay clear until the dust settles.
Either way I don't see too much upside in these markets.
Dow futures keep going up now re up 150 from a slight negative start.
At all time highs, Trump and Obama's conciliatory approach may be helping.
Finally,DOW hit all time high. My previous target was around 19000. As I said before these markets have more legs. But we cannot rule out volatility and sideway market on the way to its next target. More than markets, I am bullish on selected stocks. Global central banks cannot stay away from easy money policy yet. Most probably, it can happen in 2018.
Banks and construction stocks are in limelight now. But there are stocks in following areas as well. They should benefit from less regulation.
Food makers
Agricultural companies
Oil and gas companies
Hmmm..It now seems the mid-summer rally resuming the Bull rally was no fluke...So much for the overcooked fundamentals and the institutional funds people winding down their exposure...The TA charting I'm using sees another round of good times..the Price target (trading target) signaled back in July2016 shows 20400...This signal was activated in mid July 4 months before the Presidential elections..So it seems it didn't matter who won..
I've added the Copper price as Winner recently bought the subject up in his 8th November 2016 post on the S&P500 thread...We did a lot of discussing about copper's role with the Equity cycles back in 2009..
I posted Russell Napier's copper connection back in 30th October 2008 and watched Copper's activity and then waited for the bull signal..The whole page is an interesting read especially Lizard's scenario table for the future..remember when these posts were written 90% of the investment world were exclaiming doom & gloom, nearly all were emotionally drained and very pessimistic... On the 19th January 2009 TA signaled a copper breakout, this mean't in theory that within 6 weeks the DOW should bottom out and cycle reverse to Bull.
Back to the "now"..Although we are not experiencing a 3rd stage bear cycle we did have some sort of major bull market correction and perhaps the copper connection can loosely signal these corrections as well...It sort of happened in 2010 and 2011 corrections (see chart)....
Note of Caution referring to this post:..The copper/equity connection has a prediction rate of 100% accuracy when used correctly..The copper/equity connection and 100% correlation result was discovered during the analysis of 3rd stage Equity Bear Market cycles... and at no other stages of cycles.
Russell Napier's book "Anatomy of the Bear" discussed the Copper connection
http://i458.photobucket.com/albums/q...2011112016.png
http://www.sharetrader.co.nz/showthr...markets/page12