February 16, 2018 | Beware of Dow 26,734!

Elsewhere on the page you will find bullish forecasts for the E-Mini S&Ps and AAPL, the world’s most valuable stock. I’ll mention as well that the Dow is close to signaling a 1500-point rally to the 26734 target shown. That may sound quite optimistic, but if and when the Indoos get there I will be turning very cautious, since every trader on earth would be bullish as all get-out. Most bullish of all would be short-covering bears, ironically about to exhaust what little remains of their buying power just inches from The Top. If Mr. Market is planning to set the hook, I cannot conceive of a better way for Him to do it. You can join the bullish stampede if you wish, but just remember to keep Dow 26734 in mind on the ascent.
STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.
Rick Ackerman February 16th, 2018
Posted In: Rick's Picks