Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
In sum, after a prolonged period of stalemate in the form of a massive trading range in the S&P 500, it now appears that the bulls are regaining the upper hand. Consolidation and then follow-through from the recent breakout are essential. Holding the recent gains and breakout levels shall lead to a resistance-free space to explore on the upside. ...
Toronto is a good example of "the trend is your friend" and pullbacks remain buying opportunities. This bullish advance has increasingly broad participation across a range of sectors. The uptrend remains in force until the pattern of "higher highs and higher lows" is broken. We expect a challenge of the 15,000 level soon.
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