Here is my logic:
1. Fundamentals don't support record highs. High stock prices don't represent real economic activity. Unemployment. situation still not pre-crises levels yet prices are way above that.
2. Oil showing lack of demand.
3. US dollar becoming more expensive. End of low exchange rate.
4. China weakening as well as imports.
5. End of easy money and fed...
Bearish outlook. So far, the target zone corresponding with the 12 month pivot looks likely. By Oct 13th, we will be in the midst of a strong down move or just ready to break down. Looks like the three pushes up this year were sold heavily. Cyclical S/R levels calc on the fly & print automatically. Many times they cync up with classic pivots. I'm not short...
The two accelerated Tentative Up Trendlines pushed the price Up and the Ascending Triangle did break and make new high.
Are the FTSE 100 Index and DAX 30 Index following ?
See the links below.
