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Published on 26 Jan 2017
James
Stanley, DailyFX says hope, excitement and euphoria have helped drive
the Dow above 20,000 for the first time, having threatened the level for
the past couple of months. But he says it means the index is more
expensive now so traders should temper bullishness, but says that
doesn't mean it is a direct bearish driver. James says one way to play
this would be to look for a continuation strategy. He says let this run,
then wait for it to pull back, if it does look for support at 20,000,
with a tight stop.
President Trump lauded the rally as a sign of a healthy American economy, with Trumps allies calling it the 'Trump effect.'
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