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:
Do not underestimate the underlying strength of the bull market in its recent horizontal phase. The S&P 500 has taken the first steps to exceed its recent trading range. The next requirements are to stay above 2,400 and make a strong follow-through.
The bull market continues to be probed for fatal flaws by bearish forces, but it continues to pass these examinations with ease. A further test of the bull's credentials will occur when the S&P 500 approaches 2,500.
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