99% of all arguments about the market would end immediately if both parties just acknowledged that they have different time horizons.
You see it on twitter all the time – a short term swing trader fighting with a long term investor about the same stock.
You could both be right you know?
You could also both be wrong lol
But that’s what this is all about, identifying your timeframe.
Take the Dow Jones Industrial Average, for instance. There’s a reason why 34,500 was our upside target.
This is exactly where we were selling stocks in May of last year. These are key extension levels and a major pivot in market breadth.
And the market continues to recognize these prices as resistance: [Read more…]