World’s Barometer is Signaling the Way Up
Monday, June 14, 2010
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As I have written on a few occasions in the past on the Market Snapshots Category, the S&P 500, or “The World’s Barometer” can usually succeed in showing the trends the markets may be taking and give a glimpse into what may lye ahead for the World’s Financial Markets as well as the Global Economic Markets as a whole. It seems that the worst may be over now for the US Markets and the World’s Economies as the SPX, after topping out in late April, forming a solid U top, is now signaling a clear bottom both with a double bottom on the Daily Chart below, and a major Japanese Candlestick OKR, an engulfing pattern as shown on the Weekly Chart at the bottom and explained in my OKR Tutorial.
This is the way the Daily Chart looks:
This is the way the Weekly Chart looks:
