• 25 mins Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 3 hours Airbnb In Acquisition Mode Ahead Of IPO
  • 6 hours Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 8 hours Champagne Sales Slow As European Economic Worries Grow Louder
  • 1 day Putin Signs “Digital Iron Curtain” Into Law
  • 1 day Russian Metals Magnate Sues U.S. Over Sanctions
  • 1 day Tesla Looks To Jump Into Indian Market
  • 1 day Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 2 days Homeowners Experiment With Risky New Investment Trend
  • 2 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 2 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 2 days Ford CEO Gets Raise After Massive Layoff Round
  • 3 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 3 days Where To Look As Gold Miners Inch Higher
  • 4 days Google Faces Billions In Fines From European Regulators
  • 4 days The Energy Industry Has A Millennial Problem
  • 5 days Russian Banks Scramble For Sanction Loopholes
  • 5 days Gold ETFs Take A Hit After Four-Month Run
  • 6 days European Union Takes Aim At Ten New Tax Havens
  • 6 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  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