Summary
– Recent price action.
– Anecdotal and other sentiment indications.
– Price pattern sentiment indications and upcoming expectations.
Recent price action
The market is hovering near all-time highs, and still has a bit higher to go before we see a real test of support.
Anecdotal and other sentiment indications
I remember back in 2015 and 2016, when I was posting my next major target region for the stock market between 2537-2611, I would certainly see many comments. In fact, many of the comments centered around why the fundamentals did not support such a “ridiculous” expectation. And, a whole list of reasons as to why the fundamentals did not support such an expectation then developed in the comments to my analysis.
Well, I want to remind you of an excerpt from an article written by Professor Hernan Cortes Douglas, former Luksic Scholar at Harvard University, former Deputy Research Administrator at the World Bank, and former Senior Economist at the IMF. Within his article, he noted the following regarding those engaged in “fundamental” analysis for predictive purposes:
