Courtesy of John Nyaradi
Courtesy of Abigail F. Doolittle, Peak Theories Research
Abigail F. Doolittle, of Peak Theories Research, comments about the current state of the markets and about a possible bullish pattern emerging soon, which will likely be related to unusual Fed policy decisions. Please Enjoy Doolittle’s “The Weekly Peak-September 9th, 2011.”
In Summary:
- The S&P continues to show an Ascending Triangle that is supported by a separate Ascending Trend Channel with both technical aspects being bullish in nature.
- Even though the Ascending Trend Channel supports the Triangle, it suggests that the S&P could climb in an ascending and range-bound manner over time rather than causing a sudden move up.
- It is also this aspect that seems to best match with the small and/or unusual policy steps likely to be prescribed by the Fed at its September FOMC policy meeting rather than a new round of QE.
- Hopefully such a potential policy prescription will work for otherwise that same Ascending Trend Channel may transform into a rather rough Bear Flag.
Please Enjoy!
“The Weekly Peak-September 9th, 2011.”
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