That was fast.
After it looked like the Dow Jones Industrial Average would be on a freefall to 15,000, the leading stock benchmark has not only reclaimed its rightful ascent, but it has also set a record high.
At midday, the Dow Jones hit the critical milestone of 30,000.
The Dow was on track to hit this number earlier this year before the coronavirus pandemic paralyzed the planet.
So, now what? Well, with the Federal Reserve printing trillions of dollars and Joe Biden likely to spend more than his predecessor, Donald Trump, the Dow could test 32,000 next year. With a COVID-19 vaccine on the way, there really isn’t anything that could stop a red-hot stock market.
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I am waiting for the Dow correction, before investing in stocks. Why? I believe there will be a 30 to 40 percent correction within the next 2 years. It will be nice to purchase stocks for investment at a deep discount. Why buy WMT at $151 when you can wait and buy it for $90.