SPX Multi-Year Channel
2011 22% decline constituted a bear market. The current bull market therefore is about 2 1/4 years old. This de-emphasizes the 5 year trend and emphasizes the 1 year and 2 1/4 year uptrend. This is significant since the current bull market and 1 year slope are higher than the 5 year trend. This indicates a higher upper channel is possible, e.g., 2000 by mid-year and 2100 by year end.
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