The Dow has bounced off of the channel resistance after peaking at 27398 and there was a reversal to the downside warning of at least a pause in the advance. This has been the area of concern and indeed, once the Dow exceeded 27,000, now some are calling for 30,000. For whatever reason, the standard commentary will move to whole numbers.
In all my career, I have NEVER witnessed such complete disruption to the world economy on a massive scale of this nature. This is going to be a challenge to survive and we are really going to need objectivity, patience and discipline to survive. The comments I am getting from political insiders in London are deeply concerned that the politics in the US and UK have become exceptionally polarized with two extremes. We have lost civility. Governments were once the neutral arbitrator between parties. That unbiased sense of arbitrator has devolved into hate politics ever since Karl Marx put forth his Communist Manifesto turning people against people. The entire purpose of civilization was to bring people together to create a society of basic rules where the sum of the parts would rise and be far greater than working it out individually. Now, it is a battle of conquest and subjugation where one side seeks to suppress the other.
InterAnalyst has been serving investors globally since 1990. Authoring hundreds financial articles and publications, thousands of trading charts to investors worldwide.