5-year Global Support Channels All Being Tested Now

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Unless a person lives under a rock, you are well aware that stocks have got off to a rough start this year.

Above is our Global 6-pack, which looks at key global markets, on a multi-year basis.

Each has created a series of lower highs since mid last year.

The global declines since May of last year has each of these testing 5-year rising channel support. The declines over the past 8-months, have taken these indices from “channel resistance to support.”

Support is support until broken and key support tests are in play right now.

These 5-year bull trends are still in play. Should support give way, we would be looking at a pattern we haven’t seen in years.

We humbly feel what markets do at rising support, could well impact portfolio construction for the next several months.