No matter which way I draw the S&P 500 chart I have to admit it has got still more upside potential.
The big players, the "whales" or whatever you might call them, are happy with this and so is the Trump economic team.
Treasury secretary Steve Minuchin is an investment banker and market insider and he is probably on a daily market watch, cheering the bull team on.
All the horror stories on US debt, the shaky Deutsche Bank and so on, may or may not have a short-term effect on this market. The market likes a good story i.e. the upbeat, confident Trump economy.
The big players, the "whales" or whatever you might call them, are happy with this and so is the Trump economic team.
Treasury secretary Steve Minuchin is an investment banker and market insider and he is probably on a daily market watch, cheering the bull team on.
All the horror stories on US debt, the shaky Deutsche Bank and so on, may or may not have a short-term effect on this market. The market likes a good story i.e. the upbeat, confident Trump economy.
Comment:
Caution: There is a rising wedge formation also, and this is a very reliable indicator of a sharp pullback ahead.