Another up day with the Dow Jones up 92 points (+0.54%) and the Nasdaq up 28 points (+0.63%).
Break out your party hats everyone. The Dow broke above 17,000 (as was predicted in our member section). And according to some bulls this is an important level. It indicates that the bull market is very well intact and that the stock market is going higher. As accurate as that might be, suggesting that the stock market will go higher here just because it broke above 17,000 is like driving 100 MPH while looking in a rear view mirror. It’s not going to end well.
Further, most markets opened up a large gap up in the morning. That is in addition to a large gap on Tuesday of this week, leading all the way down to 16,925. What does that mean? It is highly probable the market will go down over the next few days/weeks to close these gaps before further longer term moves become evident. Longer-term, the market remains at insane valuation/speculation levels. With VIX fast approaching all time lows (it hit its February 2007 low today), the market is setting up for a large drop.
This conclusion is further supported by my mathematical and timing work. It clearly shows a severe bear market between 2014-2017. In fact, when it starts it will very quickly retrace most of the gains accrued over the last few years. If you would be interested in learning when the bear market of 2014-2017 will start (to the day) and its internal composition, please CLICK HERE
(***Please Note: Due to my obligations to my Subscribers I am unable to provide you with more exact forecasts. In fact, I am being “Wishy Washy” at best with my FREE daily updates here. If you would be interested in exact forecasts, dates, times and precise daily coverage, please Click Here). Daily Stock Market Update. July 3rd, 2014 InvestWithAlex.com
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Daily Stock Market Update. July 3rd, 2014. InvestWithAlex.com Google