I think the big money launderers will hold this thing up. If there is a collapse, I expect someone somewhere to post: "Lost it all, Have a gun, Headed to the bank, Wish me luck!"
This is the most overbought the Dow has been in the past 20 years. Would like to see more but can't find the data.
Trillions were lost when the Chinese market crash in 2015. Did anything happen in the world? Nothing. Because they had nowhere to complain to. So why is Bitcoin which is a fraction of a fraction of the entire Chinese stock market any different. Nothing will happen.
Thirty-year dow chart. Setting up like the late 90s. That was the last time the Dow was this overbought.
Look at that RSI!! Since tax reform has been released along with news of new fed chairman I'm going long VXX early next week....vix is so low that even a miniscule 2% pullback can zoom the vix higher by 10-20%
That chart made the crisis of 2008 non existent....wow, see what free trillions and trillions can do for the stock market.... Amazing to see this unfolding... Pull up a chart on the Nikkei, that was once a raging bull market where many thought it would continue forever, then the collapse came....the Dow could go to 25000, 28000, 33000, 37000, 49000, 55000 and so forth, but when the next great recession and crisis unfolds there is going to be shock and awe.....the world has never witnessed this type of market mentality before, the psychological viewpoint of the markets has shifted and that alone is going to be the demise of it all...
How far down do we crash? -50%? That would bring us to 2011...which means it is still higher than all the bears who were calling crash in 2010. Or do you think we will go lower than that? -90% That is fine...so what if you are in cash now waiting for -90% and it never comes....will you be in cash for the rest of your life?