Wednesday, August 24th, 2016

DOW at 11,000 SPX 1200 NDX 2000 Come a long way ba…

Stock Market is a nations emotional barometer. Its a forward looking instrument and does not relies on the past, but on the future. Today the market is making new highs unseen since 2008.

Do your remember 2008 ? When the world was ending with no light at the end of the tunnel? Hordes of doom and gloomers were threatening suicide , some were jumping off their ships into oblivion? Those were the days to remember. Bush was President and Cheney was sweeping OIL REFORM and gas was hitting $4.58 at your local pump ? Bush was stately proud sitting on Air Craft carriers while losing 700,000 jobs a month in the backyard ! The stock market was also doing what it does best- going down 500 points a day and rocketing up next morning 700 point to the moon. Volatility was in the mind numbing 80 range. Ahhh those were the days. There was no hope, there was nothing but absolute darkness after fighting 2 wars and killing 100,000 people.

Than something changed and an unknown named Barack Obama mysteriously appeared on the scenes. He was an odd man out and a boy scout politician from “nowhere”. But this man managed to garnish nations eye and people started paying attention to him. He is now your President- elected with a landslide victory handing down the worst defeat to the right wingers and the Bush and Cheney crowd. Enough was enough. The country had experienced the greatest financial crisis since Great Depression. A glimmer of hope dawned and now here we are rocking to new highs.

Can the doom and gloom come back? Of course it will. It hasn’t entirely left our psyche yet. We are not out of the woods either by any means. Bush and Cheney drove the car over the cliff and it takes time to bring it all back. The damage was horrendous and it cannot be repaired easily. Here are some charts to look at :

DJI 041310

Close to DOW  S&P 500 is on a solid uptrend along the yellow trend line  about to tag 1200 for the first time  since 2008.

SPX041310

Lastly but not least, NDX the Technology sector is also extremely bullish tagging 2000 levels. With earning season coming upon us, AAPL and GOOG and INTC may deliver solid punches of performances to rocket this Index another 100 points in next few months.

NDX 041310

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