Trade Recommendation: Dow Jones

I have a feeling that Dow Jones is just hitting the resistance at 21650+ and that it will not be able to climb to a new ATH. I could be wrong, but I got this weird feeling that we will see a sharp drop in the coming days.

As I enjoy to take high risks, I’ve shorted Dow Jones at 21650 with a stop loss at 21670 to 21680 and a take profit at 21567. I might move both the SL and the TP up or down 10+-points. This might be a stupid trade (and recommendation) as all signs points upwards. But I do not understand why Dow Jones would climb even higher. There are a few things that concerns me with the american markets:

  1. The Debt Ceiling must be raised in October or the US will come to a stand still
  2. The tax-reform hasn’t been introduced since Trump is trying to pass a health care bill
  3. The VIX (Volatility Index) is at its lowest in many years (trend reversal?)
  4. Gold price is stable at 1250 USD
  5. IMF reported that they see the US market as the most overly valued market in the world

Let me know your thoughts.

 

Founder of Hacked.com and CryptoCoinsNews