October 22, 2017 | Melt-Up Scenario Gaining Converts

The melt-up story is getting increasing play — and who’s to deny it? Even bulls seem to find it a little scary, though, since, after the melt-up, what then? I’m not sure which guru in the fever swamp is hyping the highest target for the Dow Industrials, but I’m on record below with 25680. (I could stretch that to 26,940 in a pinch, incidentally, but I don’t want to play my hole card just yet.) The 25680 target is a Hidden Pivot that lies exactly 2352 points above Friday’s close. Even though there must be higher guesses than that, mine will at least keep me in the game for the next year or so. I’m hoping we’re all wrong, since it will be very difficult to suspend disbelief as the broad averages climb to insane heights while the real economy remains entirely too sane.
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Rick Ackerman October 22nd, 2017
Posted In: Rick's Picks
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