European Debt Crisis, New Korean War, Gulf Oil Spill, Deflation, Inflation….Forget about the fundamental horror stories playing out on the world stage for one moment and check the stock charts if you want to make money or secure that nest egg.
Common Technical analysis metrics are beginning to paint a clear picture of where North American Stock Markets will be heading over the coming year. Take a look at the following S&P 500 charts that I have so conveniently painted on.
Now let’s takes some notes from these snapshots:
S&P500 1 year Chart
S&P 500 3 Month chart
S&P 500 1 Month Chart
- 1 year S&P 500 Uptrend (Red Line) not only broken, but demolished
- Head and Shoulders Forming (Yellow) – Bearish Indicator
- 3 month S&P500 Chart shows a downtrend (Green Line) and has loads of capacity to hold (Could this become the new long term trend line?)
- 1 month S&P 500 Chart shows the short term downtrend has been broken.
- From the 1 year Chart you can see that at this current time the short term uptrend would have to break 1150 on the S&P to abolish the longer term downtrend and breakdown the Head and Shoulders.
From what I can see on the charts this is very bearish indeed. Don’t be surprised if we move to test the S&P500 low of 683 over the coming year. If you are still holding stocks you may benefit in the near term, but I’m heed the charts warnings.
As for me, I pulled the plug on all my holdings a few weeks back just as trouble was brewing.
If you are an owner of income trusts then you may find yourself in a unique position during 2010 because of the new tax rules on the horizon. No, not the HST, I am talking about the new income tax rules that will alter the income trust tax flow-thru that has been such a great [...]
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I would like to thank Larry MacDonald for his recent article about http://investingincanada.info that was published in the Globe and Mail. If you don’t know Larry, have a look at his column, “Me and My Money.”
Here is the link: http://www.theglobeandmail.com/globe-investor/investment-ideas/features/me-and-my-money/real-estate-appraiser-was-hooked-after-university-stock-market-competition/article1446725/
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For those that just want a quick peak, here is the article:
Larry MacDonald
From Saturday’s Globe and [...]
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British Columbia is not just the home of the 2010 Winter Olympics. In 2010, the government of BC is scheduled to become a world leader in the environmental movement with regard to Carbon Credits. It has been legislated into law that BC Crown Corporations, and Government bodies must become carbon neutral by 2010. This is [...]
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A&W Revenue Royalties Income Fund (TSX:AW.UN) announced on January 22, 2010 that they plan to continue the expansion of their restaurant base. In the article produced via NewsWire, the emphasis seems to be on Ontario and Quebec, but from what I have seen over the past year this is only the tip of the iceberg.
Graham [...]
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Baffinland Iron Mines Corporation (TSX: BIM ) is a Canadian publicly-traded junior mining company that is focused on its 100%-owned Mary River iron ore deposits located about 160 kilometres south of Pond Inlet, Baffin Island, Nunavut Territory, Canada.
This company has had major increases in the volume of stock traded over the past 3 months. Below [...]
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This afternoon I received an email from Murray Mitchell, Vice President Real Property / Portfolio Manager Investors Real Property Fund. He has explained the reason the “mechanics lien” that was in place on their property and debunked any cash flow concerns that were insinuated.
I believe it is best stated in Murray Mitchell’s words so I [...]
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