Fortrend Securities - Wealth Management
Joel Hewish is an Investment/Financial Adviser at Fortrend Securities and manages the WealthManagement division. The opinions expressed are his own and do not represent those of Joe Forster or the International Advisory division.
Edition No. 1713th October 2010
Financial markets appear to be in the later stages of their corrective patterns which have persisted for the past 3 ½ months. Major equity markets have either completed a topping formation, arecompleting a topping formation or are already well entrenched in the next phase of their downtrend. Global equity markets are now showing similar extreme technical and bullish sentiment readings to thosedisplayed just prior to market tops registered in April 2010, January 2010, May 2008 and October 2007. Thetechnical and investor sentiment evidence now overwhelmingly supports the resumption of the next legdown in the not too distant future.
Limited time remains to protect yourself and profit from thisopportunity!!
Chart 1 – US S&P 500
The S&P 500 continued its rise higher over the past fortnight, albeit at a much slower pace.
Piece by piece the evidence continues to line up for another significant decline in share markets inthe not too distant future, but predicting when has been troublesome.
The rally from the June 2010 low to date has been surprising in the face of the technical evidencesupplied to date, but still remains well within the boundaries of the rules of the current wavecount, but we will have to see how it all pans out.