Actionable news
0
All posts from Actionable news
Actionable news in LNCO: Linn Co, LLC,

3 charts that show why stocks, oil, & emerging markets could rally by year-end

Stocks and crude oil are gearing up for a rally by the end of the year, according to one leading technical analyst.

The S&P 500 (^GSPC) fell 7% in the third quarter of 2015, its worst quarter in four years. But Katie Stockton, chief technical strategist at BTIG, sees positive signs in the index’s charts.

One reason Stockton is optimistic on the S&P 500 is that September’s dip to a low of 1,879 failed to break below August’s plunge to 1,876. She expects the index will ultimately form a bullish double-bottom pattern.

“The swift nature of that correction that we saw in August is more characteristic of a bull market correction as opposed to the beginning of a bearish reversal,” said Stockton, who is also vice president of the Market Technicians Association.

Other indices also showed a double bottom, she added. “That’s what we call a shakeout of the weak holders of the market.”

A break above the...


More