Category Archives: Long-Term

What Does The Analyst Who Called For The 2016-2017 Market Rally Say About 2018?

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By Avi Gilburt, ElliottWaveTrader.net

As Ecclesiastes notes, “There is nothing new under the sun.” This, too, applies to the stock market.

The average investor trap is the same throughout whatever period you wish to review. Markets become overexuberant, see a correction, sentiment resets, and markets rally on to their next phase of overexuberance. It is really that simple. Yet, we overcomplicate matters by relying on economics and fundamentals, which have proven to be relatively useless at major market turning points.

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All Saints Charts

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As I sit here on Halloween night (yes, this show was pre-recorded), waiting to dole out candy to the kids of the neighborhood, I thought I’d thumb through a few my-God-when-will-they-stop-climbing index charts. So here goes………

In the year since Trump was elected, the Dow has climbed nearly six THOUSAND points. What’s surprising is that not once has Trump ever mentioned the strength of equity markets during his tenure. He’s been too focused on the job at hand, and doing it superbly. And no matter what your political point of view, you’ve got to respect that.

1031-indu

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The S&P 500 Is Headed Over 3000

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Note from Tim: In case it isn’t screamingly obvious, I did not write this post.

Many will simply read the headline to this article, and use it as support for their belief in the market striking a multi-year top right now. I mean, aren’t headlines like this proof that the market is overheated?

Well, the answer is a definite “sometimes.” You see, back in 2015 and 2016 I was writing articles with headlines saying that we are going to target the 2500SPX region. And, if you thought that those headlines were portending the end of the bull market, then you were clearly wrong. So, consider, maybe this headline is prescient rather than a contrarian signal.

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Sunday Stroll through Index Park

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Based on what I saw during my visit last night, Disneyland’s newest ride is the Leap Over an Opioid Addict attraction just outside the park. They were all white males around thirty years old or so, sprawled out on the ground. At least it was more engaging than the boring Monsters Inc. ride inside the park itself.

But that’s not why we’re here. It’s a Sunday morning, and I’m out of posts (except for one waiting in the wings for the appropriate afternoon), so I’ll cobble one together. It isn’t easy, though. See, here’s what a normal market looks like:

1015-volatile

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