Well, this took alot longer than anticipated. It's not really a big deal as the S&P 500 has already made new all time highs in recent weeks on multiple occasions and in the end that's the true gauge of the market.
However, about a month ago I did a post on how humans love round numbers and that 20k on the Dow Jones Industrial average was basically a forgone conclusion. Not long after writing that post I put the theory to use and entered a swing trade (swing trade= a time frame of a few days to a few weeks) on the Dow Jones Industrial average using my 1broker account.
That conclusion came to fruition this morning, finally!
The Point
Point is the Dow Jones could go higher from here, it could go lower. In the end it really doesn't matter because whenever we near a big round number, whether it's 100 for a stock or 10k, 20k for a market average. The animal spirits always seem to find a way to get it there, even if just for a moment.
Conclusion
It wasn't a crazy big trade or anything, but I do enjoy putting my money where my mouth is.
Glad the round number theory came through as expected, egg on the face is never fun!
Here is the round numbers post if you missed it.
Regards,
Thanks for the pic pixabay
Disclaimer: All info herein is my opinion and for educational use.