Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
The 2009-16 bull market starts the year a little bruised but still intact. The bull market can tolerate some short-term backing and filling to become fully oversold, and if the bull is still in a reasonably healthy condition then the first quarter of 2016 should see the S&P 500 move back towards its all-time high of 2,134.72. While aging, this bull market should be able to mount at least one final "surprise" in 2016 – a "Leg 5" rally to new highs.
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