• 4 hours China: The New King Of Caviar
  • 10 hours Gold Mid-Tiers Rally On Fresh Earnings Reports
  • 1 day Can The British Pound Overcome Brexit?
  • 1 day Is A Gold Breakout Near?
  • 2 days Federal Reserve Downgrades U.S. Growth And Cuts Rate Hikes
  • 2 days Disney Beats Out Comcast In $71.3B Mega-Merger
  • 2 days The Feds Continue To Prop Up Equities Markets
  • 3 days Bejing's Sway In South China Sea Is Fading
  • 3 days Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 3 days Airbnb In Acquisition Mode Ahead Of IPO
  • 3 days Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 4 days Champagne Sales Slow As European Economic Worries Grow Louder
  • 4 days Putin Signs “Digital Iron Curtain” Into Law
  • 4 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 4 days Tesla Looks To Jump Into Indian Market
  • 5 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 5 days Homeowners Experiment With Risky New Investment Trend
  • 5 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 5 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 6 days Ford CEO Gets Raise After Massive Layoff Round
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

Things haven't changed much since our last update at the beginning of April. The long-term trend remains up, although the SP500 hasn't been able to break out of the box it has been confined to since February '15.

There's a good chance that the SPX will make another run at new highs this week, since it has been making higher lows all throughout March and April, and the current upswing is starting from oversold levels, just as it happened on all previous occasions:

S&P500 Index Chart
Charts courtesy of OT Signals

Swing degree angles provide accurate support/resistance levels and price and time targets. Despite all the handwringing about QE, HFT, CB intervention and what not, when examined through the decades (going all the way back to the end of the 19th century), these same angles reveal that the markets have a tendency to move consistently along similar paths and to follow similar patterns.

Measured by the same historical standards, this bull run is getting long in the tooth and will also run its course. But first, several key short-term technical levels would have to be broken. Until that happens, no matter how much the bears cry wolf at every downturn, the bulls will keep possession of the ball.


Back to homepage

Leave a comment

Leave a comment