Stocks broke upwards last week from the consolidation pattern we’ve been watching.
Both breadth and credit suggested this move was coming. Stocks had some catching up to do and if you took our analysis from two weeks ago to go long, you’ve done well.
So where do we go from here?
The answer UP… Not in a straight line, but to 3,200 by year-end, and possibly 4,000 next year.
Stocks are in a clear upward channel (blue lines). And now that resistance (red line) has been taken out, the channel eventually leads to 3,200.
The key for investors is to find the right plays for this, and then “buy and hold”for the maximum gains. Those who do this correctly, with carefully targeted picks, could stand to generate literal fortunes.
We recently told our clients about a unique way to play the coming blow off top. In the last 10 years this investment has more than tripled the markets returns. And we expect it to absolutely EXPLODE higher as the S&P 500 rises to new all time highs.
To find out more swing by www.gainspainscapital.com
Chief Market Strategist
Phoenix Capital Research