Wednesday, June 5, 2013

Lines on Charts: S&P 500 Resting Languorously on Lower Channel Support as Credit Suisse Looks for 15% Upside (SPY)

SPY $162.56 -$1.00  DJIA 15,080.50 -96.99
From Futures Magazine:
...S&P 500 Index Trading Daily Chart – SPY Exchange Traded Fund
The S&P 500 index continues to hold up within its rising trend channel and the recent pullback is bullish. Remember the trend is your friend and it can continue for very long periods of times ranging from days, weeks, and even months…MORE

What to do?
I'm with the Credit Suisse guy quoted at FT Alphaville:
Garthwaite: ‘Just buy stocks’
Worried about the Fed’s taper tactics? Maybe Abe’s poisoned third arrow?

Andrew Garthwaite’s not. The Credit Suisse equity strategist has just hiked his S&P 500 forecast to 1,730 (from 1,640). For 2014 he’s going for 1900. Yes, Garthwaite sees another 15 per cent…MUCH MORE