(This is an excerpt from the past weekend premium member report published last Friday morning the 1st)
S&P 500 (CME)
The S&P Index is attempting to penetrate the neckline of a 22-month continuation inverted H&S pattern. Note that a 15-week ascending triangle has been completed on the daily chart of the Dec contract. Perhaps this triangle will serve as the launching pad to complete the larger H&S configuration. Factor is long.
https://www.peterlbrandt.com/wp-content/uploads/2019/11/stocks-keep-on.jpg8881333Peter Brandthttps://www.peterlbrandt.com/wp-content/uploads/2016/03/Factor-Research-Trading-Services-300x79-300x79.pngPeter Brandt2019-11-05 08:46:502019-11-05 08:47:58Stocks Keep On
https://www.peterlbrandt.com/wp-content/uploads/2019/09/brazil-and-mexico.jpg5181555Peter Brandthttps://www.peterlbrandt.com/wp-content/uploads/2016/03/Factor-Research-Trading-Services-300x79-300x79.pngPeter Brandt2019-09-30 15:07:172019-09-30 15:07:17Down in Latin America
We have an Interest Equity Markets development. The DJIA has been unable to make a new high for the past 18 months. This is also true for the S&P 500. My thinking is that a decisive new high by these two indexes confirmed by a new high in the S&P A/D is required to put the cyclic bull trend back on track.
This discussion will bring Factor members back to Jun 2017. The advance in Mar 2016 violated a multi-year parabola. Following the initial rally from the violated parabola, the market corrected in the form of a 13-month channel. The completion of this channel in Jun 2016 produced a 785 BP trading profit for the Factor Tracking Account. Another channel is forming in the C$. This is a diagonal pattern, so I am cautious. Keep in mind