8 Jun 2020 ● 05:01 AM
The Dow Jones djia index is making higher tops and bottoms and extending. The big move up on Friday has everyone looking at discount broker data and put/call ratios that are hitting records. Bubble behaviour. but a simple use of a channel shows that the Dow can go on longer. The top end of the channel goes to 30500 or more and end up at an all time high like the Nasdaq has already done. The bubble behaviour of crowds is like that seen in major 5th waves that go crazy. But how long will we see crazy? Bubbles never end in a jiffy. So stay patient is all I can think. Even as nothing makes sense, just use simple trend following to follow the move makes more sense in Bubbles. Markets can remain irrational for long.