Market Overview

5-Year Global Support Channels All Being Tested Now

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Unless a person lives under a rock, you are well aware that stocks have got off to a rough start this year.

Above is our Global 6-pack, which looks at key global markets, on a multi-year basis.

Each has created a series of lower highs since mid last year.

The global declines since May of last year has each of these testing 5-year rising channel support. The declines over the past 8-months, has taken these indices from “channel resistance to support.”

Support is support until broken and key support tests are in play right now.

These 5-year bull trends are still in play. Should support give way, we would be looking at a pattern we haven’t seen in years.

We humbly feel what markets do at rising support, could well impact portfolio construction for the next several months!

This was originally shared on Kimble Charting Solutions

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Broad U.S. Equity ETFs Eurozone Technicals Markets Trading Ideas ETFs

 

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