What’s Next for the Dow?
January 23, 2018, 10:32 am
If you had any doubt about Wall Street’s ability to sustain last year’s rally, the first few trading days of 2018 provided an extremely compelling argument. The market hit the ground running and then kept climbing through the next two weeks.
Then last week we saw Wall Street get a little spooked. This was due to a couple of reasons, including an overextended market and panic over the cryptocurrency sell-off. The problem with this environment is that a correction can beget another correction, just like higher highs beget higher highs, so downside can accelerate quickly.
Given this, I think we are due for a near-term correction, but that doesn’t mean the market can’t end up significantly higher. In fact, I think the Dow will hit 30,000 within the next 12 months.
Check out my latest video clip from CNBC below to find out why, as well as who I think the leaders will be that fuel this market’s fire!