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Stocks Are Preparing For a Blow Off Top

Stock-Markets / Stock Markets 2019 Oct 17, 2019 - 03:50 PM GMT

By: Graham_Summers

Stock-Markets

Stocks broke the all-important level of 3,000 on the S&P 500 yesterday. The market is now forming a triangle formation.


The breakout is likely to ultimately be up. Breadth leads stocks and breadth is in a clear rising channel, having recently risen to new all-time highs.

Until we get a breakdown from that channel, the likelihood of a severe breakdown remains small.

Big picture I believe stocks are preparing for a blow off top that will take the S&P 500 to 3,400 or even 4,000. After that, comes the bear market.

Best Regards

Graham Summers

Phoenix Capital Research

http://www.phoenixcapitalmarketing.com

Graham also writes Private Wealth Advisory, a monthly investment advisory focusing on the most lucrative investment opportunities the financial markets have to offer. Graham understands the big picture from both a macro-economic and capital in/outflow perspective. He translates his understanding into finding trends and unde74rvalued investment opportunities months before the markets catch on: the Private Wealth Advisory portfolio has outperformed the S&P 500 three of the last five years, including a 7% return in 2008 vs. a 37% loss for the S&P 500.

Previously, Graham worked as a Senior Financial Analyst covering global markets for several investment firms in the Mid-Atlantic region. He’s lived and performed research in Europe, Asia, the Middle East, and the United States.

© 2019 Copyright Graham Summers - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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