Stock Market Forecast - What happens once we hit double top and set new all time high?
Mar 05, 2013 is an important day in US Stock Market History since Dow Jones has crossed its revious all time high of 14164.53 on Oct 09, 2007. Dow Jones Index Closed at 14,253.77 which is about 89 point above the previous all time high.
Now the question is what will happen going forward? Whether the Dow Jones will continue to set new all time high?
The answer would come from investor psychology. Some people will try to cash out the profits and move on to safe heaven US dollar. This can accelerate a big rally in greenback.
Dow Jones Index will be trading in a narrow range going forward. Many investors and hedge fund managers will buy the stocks once Dow Jones has crossed 5% above the last all time high, that is 15,000.
Wath out Dow Jones at 15,000
Once Dow reaches 15,000, then investors around the world will cheer and accelerate US stock market rally by another 20%. If Dow Jones did not make 15,000, then it will move down further by looking for the next technical support level.
Let's wait and watch!