The Long-Term Bull Trend Of Leading Markets Is Testing Multi-Year Support.
The “Big Bull Trend” as reflected in the S&P 500 and the DAX Index (Germany) over the past 4-years is near a key test of rising support.
The Power of the Pattern shows that the S&P 500 and DAX both remain inside of uniform rising channels. This can be seen in the chart above...which shows the S&P 500 on the left and the DAX on the right.
Despite weakness over the past few months, the trend still remains up for both of these…BUT both markets show clear signs of topping out and a key test is very near.
At the FED rate announcement to take place later this week, near the traditional December seasonal low, it is widely expected the FED will start to raise rates. This could be a key factor in the future direction of both markets.
The type of price action that takes place this week, near rising support, could determine a good deal of where stocks will be at the end of this year and the first 6-months next year.
It has paid to buy on support for the past few years. Will it be different this time?
(Edited from Kimble Charting Solutions)
Marketing Integrator/Synthesizer
8 年Whether we liked it or not,the hand writing is out there for us all to see,it's going to be different entirely from other buying support level,let take a critical look all the market indicators variances and skewness for the past 4years in question and extrapolate it against GDP growth and inflationary rate growth,the outcome is definitely leading us somewhere....