SS&P 500 - Monthly chart. Log scale.July 2012 - Broke through...

SS&P 500 - Monthly chart. Log scale.

July 2012 - Broke through resistance at 1574 where there was major failure in 2008.

In terms of duration - equaling 2003 - 2007

but we haven't come back and tested 1574......


Rising wedge breakouts lead to parabolic moves....bearish (2008-2009) AND bullish (1995 - 2000).

Currently we are at the top of a steeper than usual rising wedge. This year do we begin to make the move and come back and test 1574?

This time markets are different though - increased globalization/trade and increased 'printing', record low interest rates. Perhaps we begin to see an unprecedented rise in equity markets?

(On a side note - I've been trading the US and buying shippers which are a proxy to the Baltic Dry Index and can be viewed as a leading indicator for global trade. They're going parabolic)