By Avi Gilburt, ElliottWaveTrader.net
Last weekend, I wrote an article entitled “The Market Is Going To Crash.” The response to that article garnered over 55,000 hits on Seeking Alpha, which is about 4-5 times the reads that I normally get on a stock market update.
This gives me anecdotal insight into where the overall sentiment is in the market today. It seems most investors are leaning quite bearish, and are looking for articles that support their own bearish bias.
And, as I noted last weekend, I am sorry to disappoint all of you who have a bearish bias. You see, the market is likely going to be heading over 3000, and potentially even over the next 12 months.
While I am sure you were taken in with the common expectation that the President’s abandoning the Iranian deal was going to tank the market, it seems the market never got that memo. Yes, we have yet another reason the market has ignored while it continued to climb higher. At this point, you would think that investors would be used to this if they have been paying attention in 2016 and 2017.