Dow Jones Industrial Average Will Hit New Highs Before Crashing 50 To 60 Percent
There’s an old axiom that claims you get what you pay for, meaning value does not come cheaply. This is particularly poignant at a time when traders are on watch for the Dow (^DJI) and S&P 500 (^GSPC) to set new closing highs and investors seem immune to existing signs of caution. Even the worst GDP figure in 3 1/2 years didn’t do much to slow the market’s ascent.
Even the most optimistic investors are getting a bit antsy these days, wondering how and when it’s all going to end. For Tom Kee, president & CEO of Stock Traders Daily, the answer to that question is ‘not well.’
“I’m looking for another high in this market, then I am looking for a turn down,” Kee says in the attached video, adding that he believes it is “going to come relatively soon.” By downturn, however, what Kee real means is a crash to the tune of ”50 to 60%,” which would bring the Dow Jones under 6,000.
Related: Direxion Daily Financial Bear 3X Shares ETF (NYSEARCA:FAZ), Direxion Daily Small Cap Bear 3X Shares ETF (NYSEARCA:TZA), ProShares UltraShort S&P500 (NYSEARCA:SDS), Direxion Daily Financial Bull 3X Shares ETF (NYSEARCA:FAS), Dow Jones Industrial Average (INDEXDJX:.DJI).