• 678 days Will The ECB Continue To Hike Rates?
  • 678 days Forbes: Aramco Remains Largest Company In The Middle East
  • 680 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,079 days Could Crypto Overtake Traditional Investment?
  • 1,084 days Americans Still Quitting Jobs At Record Pace
  • 1,086 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,089 days Is The Dollar Too Strong?
  • 1,090 days Big Tech Disappoints Investors on Earnings Calls
  • 1,090 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,092 days China Is Quietly Trying To Distance Itself From Russia
  • 1,092 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,096 days Crypto Investors Won Big In 2021
  • 1,097 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,097 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,100 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,100 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,103 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,104 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,104 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,106 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

The State of the Trend

A little more than a month ago we noticed the similarities between the current nascent rally and the November '11 - April '12 bull run. After a shaky start, the upswing is gaining momentum, and now is a good time to update the chart and revisit some upside targets:

There are a few things that stand out from this chart.

The more optimistic target, should the analogy be complete, is 1530 by the end of 2012. However, thus far the current rally is following a less aggressive growth path, which places the upward target within the 1430 - 1490 zone.

From a medium-term timing perspective, September 4th looms as the next hurdle.

From a very short term perspective, the importance of the 1395 support level can not be overstated. A break below opens the door for a retest of the lower channel at 1360, which also happens to coincide with Hurst Channel support:

Hurst Channel support

 

Back to homepage

Leave a comment

Leave a comment