Dow Jones Index under 5000 by 2013?
Written by AtelierUK
As my first post to Guru Talk, I wanted to share an insightful article written by Tom Hougaard last year. For those who haven’t heard the name before, Tom is a highly successful market strategist, has worked for some of the UK’s leading financial brokers, and has conducted over 1000 interviews across various television networks (CNBC, Bloomberg etc).
In December last year he predicted that a market turn was in progress on the Dow Jones Index. Since then, the Index has failed to cross the Fibonacci top at 12877.63, suggesting the prediction still holds weight. To summarize his prediction, he expects “the Dow to be trading lower than 5000 by the end of 2013, or it will have traded below 5000 by the end of 2013.”
For any of the longer term index traders out there, this could be the ideal time to consider your position in the market, should you agree with Tom’s sentiment. My personal approach will be buy into Short ETFs outside of eToro due to the longevity of such a position.
In any case, I wish you all every success in your trading on OpenBook.