The following is one of the 13 charts and corresponding analysis (green font below) from our Wednesday January 2nd Keys To This Week report (click here to view a sample report).
Keys To This Week, one of 8 different reports that we produce for subscribers throughout the month, is a comprehensive weekly outline of key market factors and corresponding charts and data pertaining to the US stock market and market sectors, US interest rates, and the US Dollar, that are most likely to influence upcoming US financial market direction.
Excerpt: from our January 2nd Keys To This Week
Category: Intermarket Analysis
Topic: Bullish Patterns In Global Indexes
Chart 4 below displays the German DAX Index weekly since 2007 and highlights the August 2012 breakout from a triangle pattern, which represents more than a year of investor indecision. The pattern targets an eventual 21% rise to 9400 that will remain valid as long as the apex of the triangle at 6780 is not broken to the downside.
Considering the long term and relatively stable positive correlation between the DAX and the S&P 500 since 1990, this pattern also suggests a positive intermediate to long term bias for the US stock market.
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