April 1, 2019 | The Magnetic Pull of Old Record Highs

Betting that the stock market’s steepening surge will continue seems like such a sure thing by now that we should probably expect the downturn-from-hell to start momentarily. Actually, the 330-point leap the Industrial Average took on Monday exceeded two important peaks recorded on Feb 25 and Nov 8, respectively, implying that any pullback of less than a thousand points would be merely corrective. Alternatively, the blue chip average is getting close enough to October 3’s all-time high at 26,951 that the Indoos will start feeling its magnetic pull 200 or so points above current levels.
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Rick Ackerman April 1st, 2019
Posted In: Rick's Picks