Can any technical expert verify the charts as per attached information, please? Thanks.
1310 ET 21 April 2008 Secular bull market resuming as mega caps lead Merill
"Both the S&P 500 and the DJIA have been range bound since January (between 1,315-1,400 and 12,060 - 12,600 respectively) but those range can also be described as a head and shoulders Bottom Pattern " Mary Ann Bartels, Merilly Lynch Technical Research Analyst says in a note.
"The completion of these patterns would project the S&P to 1,500 - 1,525 and the DJIA to 13,700 - 13,800 (with intervening resistance beginning at 1,450 for the S&P and 13,150 for the DJIA)", she added.
Last Friday, the DJIA and the Amex Major Market Index broke out of the base confirming mega-cap leadership, a move that "verifies to us that the lows are in and the secular bull market is resuming. "
Can any technical expert verify the charts as per attached...
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