If we include after market price action in ES as part of today highs, including the next few hours, technically it's 30th of April for a few more hours. He could still be right. Unlikely as the market is ripping higher.. but you never know..
Well gloating at 0600 in this market is not a good idea. As for tomorrow it could be the reverse of today. Open at the highs and go straight down. But like I said before this market will go as far as the top tech companies go. The top 11 tech stocks make up 39% of the SPX & AI isn't finished yet so my guess is the SPX goes higher. Nothing else really matters. Starbucks & Nike collapsing doesn't matter since they bet their future on China and lost. Crappy management at Boeing doesn't even impact the DJIA anymore. Even a collapsing UNH doesn't matter much.
My original post was made 7 days in advance. Nothing has changed. If you say that my prediction is off, maybe, but I say that it is out of tolerance. (Out of tolerance (OOT) - Sometimes used to describe a machine or process which is not operating according to desired specifications. ) Read my past posts, I've repeatedly said that reversal dates can vary by upto 3 days on either side. Its an inherent problem with reversal dates. I've also said so here on the 24th My options position is on with not even the slightest interest to get out until it reverses. My short position in another market is already in profit. Don't get fixated on dates, this is a market that does things at its own time. My typical profit on my trades is >3x. Even if this position goes to zero which won't happen easily, I'm still way ahead of the game. BTW, the premarket ES is about 1.5% up. I still expect the reversal and to make money from it
Nasdaq composite would have to go from 11,000 to 50,000 for that to repeat over the next two and a half years. It is currently at 17,700. And the schiller P/E cape ratio for the Nasdaq would have to reach almost 120 for that that to happen. It has never been above 60. Which would suggest it is possible for the Nasdaq to hit 25,000 sometime in the next 3 years in order to match the dot com peak valuation level. Although it could set a new record for valuations and exceed the previous level this time.
I don't think you can compare the start of the netscape rally to the start of the chatgpt rally.... Will look back in about 5 to 10 years and see that the chart posted for comparison will be very very wrong. They may look similar now but will not be anything similar by the time it's over.