Why would we top out?
We did have a few months of sideways already, but broke out higher, so...
I have zero skill in long term predictions, so anything beyond the week ahead is mostly a hobby. I think I've said before that the my impression is that the markets really shouldn't be trading at these levels from a fundamental viewpoint, yet here we are. So, I'm not fighting that and I keep my trading 100 % technical and do not impose any political or economic opinions on my technical trading.
It's funny because just today I was listening to an older podcast from 2018 where some trader said he suspected much lower stock prices in the year to come and a possible collapse in the NASDAQ.
NASDAQ appreciated well beyond 100 % from that call and the truth is that people have been finding this market overvalued and overpriced since the bottom in 2009.
