Yesterday, I was asked if I’m still holding my Dow 10k by Labor Day prediction – considering it now means at least a 60 point gain for the next 11 trading days.
Yes, for 2 reasons.
First, my original prediction factored in a 75-point daily shift.
Second, Conference Board’s Aug 20 Leading Economic Indicator report came out today [pdf] citing a 0.6% increase (oh sure, I called 0.7% a couple weeks back).
“the six-month growth rate in the index has accelerated to its highest rate since the middle of 2004”