My choice for the next major bull market — target of $17,000 per futures contract
- Posted by PeterLBrandt
- on May 20th, 2013
But it is up to you to figure out what the market is.
Once every few years a market sets up whereby the fundamentals harmonize with the longest-term chart, which harmonizes with the weekly chart, which harmonizes with the daily chart.
The quarterly chart shows that this market completed a 34-year base in 2008.
The weekly chart shows that the market formed a 42-month triangle that retested the massive 34-year base. This triangle was completed in 2012.
The decline since September 2012 has served as a retest of the completed triangle. The daily chart displays a possible 8-month continuation rounding bottom pattern. A decisive close above noted upper boundary of this pattern would set the stage for a magnificent bull trend. The target of this market set up would be a move equal to $17,000 per futures contract.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Peter Brandt entered the commodity trading business in 1976 with ContiCommodity Services, a division of Continental Grain Company. From his start in the commodity industry, Peter's goal was to trade proprietary funds. But, he first needed to learn the business. More »