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Stock Market Indicators Looking Bullish According to Gary Tanashian
Pinnacle Digest writes: In his latest article, Gary Tanashian breaks down the bullish stock market indicators starting to surface.
Tanashian points to a number of factors starting to surface which signal this market has bottomed out and could surge higher very soon. He points to the obvious fact that the US dollar, as most everyone knows by now, is grossly overbought and over-owned. This could ultimately lead to a strong bounce in the markets just from the expected profit taking from those who have been long the dollar since early 2012.
In his bullish case, Tanashian points to the fact that it’s a Democratic election year in the US, which we believe will result in distorted and manipulated economic numbers, as well as any and all possible attempts to trigger immediate stimulus.
Tanashian’s indicators are telling him that the markets are in close proximity to important support levels.
His last reason to be bullish on the market is the fact that he believes, after the Fed meeting this week, an announcement hinting or declaring another round of QE will arise. As Tanashian has always stated, the deflationary pressures are too worrisome for the Fed to just sit idly by.
Tanashian states “A potential ‘QE’ component is part of the analysis because as I have taken pains to illustrate, a deflationary environment has reset the entire casino from its former ‘inflation expectations’ stance of a year ago to one that is on pins and needles about Greece, Spain and Europe in general, as the US economy continues to steadily grind out signs of economic deceleration and China’s growth has slowed from unsustainable hyper levels.”
Click here to read Gary Tanashian’s full article.