Actually, many market “doomsayers” have been saying that they expect the market to rise in the short term, prior to collapse. I have heard everything from DOW 12k to DOW 15k — from so-called doomsayers. In fact, many seem to believe that the economy will continue to limp forward for a few more years.
A short term rise in the stock market does not negate the very real structural problems that exist. By all means, keep riding this updraft. But don’t be surprised if it doesn’t end well.
Recent market history has significant pullbacks everytime the DOW goes above a 11,600 resistance point. I could see a large pullback, then a reallocation of funds to different sectors.
But don’t be surprised if it doesn’t end well.
I'm thinking Monday. No proof, just speculating on that one.