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The caveat is Japan, which spent 20 years going down in the 90s and 00s. Impossible to say for certain if/when that will ever occur to the US.JFR wrote:SPY is relentless.
As a wise old trader recommended, buy every dip on the way up, and be prepared to be wrong once at the top.
fwiw... INDU / TRAN*Al_Dente wrote:Fidelity’s chart on “The Dow Theory” confirmation
https://www.fidelity.com/bin-public/060 ... theory.jpg
fehro wrote:fwiw... INDU / TRAN*Al_Dente wrote:Fidelity’s chart on “The Dow Theory” confirmation
https://www.fidelity.com/bin-public/060 ... theory.jpg
Sorry, but I can't buy that argument. I hear it a lot, yes, but look, if that was right then we'd see bigger and bigger volumes entering the market, and fueling the raise... and we have exactly the opposite, less and less volume... and even less now on holidays...JFR wrote:When does the market run out of gas?
Part of the spectacular rise seems to be that people feel there are no better alternatives to the stock market. And as long as it rises that is true. Forget geopolitics. Forget risk off. But no euphoria at the top yet. No exhaustion.