The Road to 10,000 on the Nasdaq Harry Dent | April 06, 2019 | The markets continued to creep up on Friday morning, anticipating the finalization of the China-U.S. trade deal and the end to the trade war. But what we really need here, to get a final confirmation of my Dark Window scenario, is a correction. Based on how the markets have behaved since late December, this current rise looks like a first wave up (in Elliott wave parlance), with two more to follow… taking us to 10,000 on the Nasdaq, 33,000-plus on the Dow, and 3,500 on the S&P 500. With us just 2% from the highs on the S&P 500 and Dow, and 3% on the Nasdaq, watch today’s video to hear what I expect will happen next… and why. I’ll also explain my timing and targets. Note: I recorded this video yesterday, so when I refer to "today," that's Friday, and "yesterday" is Thursday. WATCH VIDEO ON FACEBOOK » Trending Stories... Since last November I've been forecasting that we are likely moving into another Dark Window of spectacular gains before a big crash in early 2020. It didn't look that way into December when stocks were down 20% or more, the largest correction since 2011 during the euro and Greek crisis. But my short-term indicators were... If you went to the store two days in a row and all the prices had gone down by 20% on the second day, would you wonder what was going on? What if prices jumped 10% one day, then fell 7% the next? What if, over the course of a year, prices skyrocketed by 400%?... A lot's driving this bubble we've been in since 2009, but good fundamental trends and things like demographics and technology are not among them. The biggest inflator has been the $13 trillion worth of quantitative easing (QE) courtesy of central banks. Thanks to their significant gift to all but retail investors like you and me,... Biotech in 1990, internet companies in 1999, vacation homes in 2005, cryptocurrencies in 2017. Now the fast money is chasing ridesharing pioneer Lyft, as well as other unicorns (private, money-losing companies valued at $1 billion or more). The Fear of Missing Out (FOMO) can certainly make us look foolish. My mother warned me about things like... An article caught my eye earlier this week: 102-year old John "Sonny" Franzese, a former Colombo crime family member, incarcerated for 50 years for refusing to rat on his friends, is finally speaking out. This, on the heels of the Francesco "Frank" Cali murder on March 14 – the first killing of a New York... |
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