I believe the markets will experience a minor pullback toward the weekly 50 day SMA levels (silver line) over the next couple of weeks. However, we should recover and move up to new all-time-highs by the end of the year. Current market conditions remind me of the cautiously optimistic sentiment in late-2016. Investors waiting in cash or short the market will feel pressure as markets continue to grind higher, which may cause an epic move such as that seen in late-2016/2017. Despite some bearish sentiment among investors, I remain bullish on the American stock markets going into 2020.
Good luck trading,
Eddy Yang