Stock Market Dow Closes 2016 Up 13.4% Confounding Perma Bear Doom Merchants For 8th Year!

Stock-Markets / Stock Markets 2016 Dec 31, 2016 - 09:35 AM GMT

The Dow Jones stock market index closed 2016 up 2338 points at 19,763, up 13.4% for year confounding the doom merchants who saw every surprise event of 2016 from Januarys oil price collapse to Britain's Brexit EU Referendum vote to America's very own self professed Mr BrExit, Donald Trump shocking the American establishment elite by winning the US Presidential election, all and more were apparently definite harbingers for a stock market apocalypse, reaching their most vocal just as the stocks bottomed and surged higher.

So none of the financial presses head lines of imminent flash crashes, death crosses, domed house pattern tops, double, triple and quadruple tops, or the frighteningly named Hindenburg Omen several of which apparently took place during 2016 ever transpired in a bear market or worse. However, as my articles and videos warned ALL YEAR to to IGNORE the perma-doom merchants who had already been wrong for 7 straight years and given my in-depth analysis of January and its forecast conclusions to expect the stock market to set a series of new all time highs during the Second half of 2017, so the perma wrong crowd would once more looked set to be proven to be wrong again for the stocks bull markets eighth year.

See my series of videos for taste of this years analysis and with more plenty articles in my articles archive (http://www.marketoracle.co.uk/UserInfo-Nadeem_Walayat.html).

26th Jan 2016 - Dow 16,093

2nd March 2016 - Dow 16,685

17th May 2016 - Dow 17,710

7th August 2016 - Dow 18,500

19 Nov 2016 - Dow 18,905 - Trump Delirium Triggers Stock Market Brexit Upwards Crash Towards Dow 20,000!

Now I know you all want me to promptly trundle out my forecast conclusion for the Dow for 2017. However, as my most recent video analysis pointed out that in my consistent opinion, Technical Analysis (TA) is a RED HERRING. Which means so as to arrive at that which is the most probable involves two critical precursor steps, that of the mega-trends and that of personal risk vs reward i.e. putting my money where my mouth is as I elaborated in the following recent video.

Mission Accomplished

As for what's in the store for the stock market for 2017, then see my most recent video analysis posted right the recent peak of the Dow, on the day it touched a new high of 19,987 and warned "These Stocks Bull Market Delights Can Have Violent Bear Market Ends" and why I was immediately looking to sell 50% of my stocks portfolio. Given that the warning was posted on the 22nd of December, on the day the Dow traded at its highest level ever of 19,987 just 13 points shy of 20,000, then it could yet turn out to be one of the most timely market warnings in history issued right at the trading peak of the stocks bull market, and this not from a perma-bear but from someone who has been a consistent bullish since March 2009! (15 Mar 2009 - Stealth Bull Market Follows Stocks Bear Market Bottom at Dow 6,470).

Ensure you are subscribed to my always free newsletter and youtube channel for forthcoming in-depth analysis and detailed market trend forecasts aimed, lets see just how bad Trump will be got stocks for 2017, as we aim to capitalise on Trumps Coming War on China.

By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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