Comment: If he's been around 43 years...

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If he's been around 43 years...

Then he should realize that markets -- all markets -- typically breakout to the upside after they have hit a major resistance level 3 TIMES.

If you take a gander at this less than perfect 30 year chart you'll see that 1-2-3 breakout to the upside.
1 was 2000
2 was 2007
3 is now.
http://www.the-privateer.com/chart/dow-long.html
It is textbook technical trading 101.

I remember in the 80's when the Dow broke through 2000 for the first time. It was all over the news. People like me a teacher at the time who knew nothing about stocks were talking about it.