IF we were to hit 2065 we would be in an absolute rocket launch zone to spectacular levels as the P/V above 2065 to 2500 is not more than 10% of the P/V below it.One huge element of the spectacular rise in NAZ starting in late 1999 was we had an overhang of ZERO.
The co-efficient of resistance was nada, the only resistance were profit takers.
So what can cause a move to a massive breakout zone? An even greater re-allocation of institutional and fund money to equities would at the time of their re-allocation period cause this, as they are at record allocation to equities already, this would be total madness, but we know that is possible; if on the other hand, institutions decide to drop their equity allocation 5%, due to feeling the risk reward is mounting, we get another scenario---but that would be a rational act, and thus makes it odds against:)
For a collapsing to occur at 2065(if it were achieved) would require the selling pressure to come from massive profit-taking.
If buyers arrive however the runway to 4000 would be virtually without overhang resistance, and thus such an event theoritically could occur quite rapidly.
As it appears the 3rd and 4th quarter will not disappoint creates a deja vu potential to go totally insane and then self destruct.
The key will be the matter of re-allocation to equities incredibly being increased, imo..
i see P/V to be an extremely important part of TA.
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