Replies to post #22822 on Market Direction and Stock Trends

[chemist72]

Thank you for your insights. I appreciate it greatly!

I need to think more about your ideas before I would be able to comment on them. I do look forward though to continuing this conversation.

In the meantime, can you give me an idea how you project resistance of 23,700? Its interesting, because I projected (privately to myself) a top for this market around 24,000 last November. Don't remember exactly how I did that, but I clearly remember that number! - LOL

[chemist72]

So far, your projections are spot on. We peaked last week at 23,602.

Could this be a near-term top?? I too am worried about the implications of a failed tax-reform package. Imho, the market could react very negatively to such an event.

I'm looking at buying some gold-backed securities as a hedge on a market pullback. Not sure how that might work out as I have only limited experience in the gold sector.

[chemist72]

Will we see an end of year rally to the 25500 level??