Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Monday, the 18th of November.
Over the weekend I took some time and looked at the DOW, NASDAQ, and the S&P 500 indices. I wanted to measure just how high these indices could potentially go. All three indices have been on a tear this year, with the DOW making 57 new highs this year alone. On average, that is a new high every four days, which is pretty remarkable.
Now please remember that these are estimates based on technical analysis, they are not written guarantees carved in stone. As with any trade or investment strategy, you need to have an exit plan (money management) in case events change, whether over time or abruptly.
Just like any analyst, unforeseen events can change my analysis on the market. However, if my predictions remain correct, please do congratulate me and tell all of your friends (just joking on this one!).
Let's get started looking at the three indices and measuring the potential up-moves in all three major markets.
I would love to hear what your take is on the major indices and what you think can happen to the markets. How high, how low, agree, or disagree, let us hear your voice. It is always great to chat with other traders and hear their thoughts even, if they differ from my own.
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.