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Chart Watch: Why markets will see new highs before year end

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:

Leg five of this lengthy and great bull market is going through a necessary correction. The end-game of this corrective period has arrived and it may be a volatile one as a fully oversold condition is reached, but the bull will recover its strength and we still expect to see new highs before year-end.

Stocks that complete correction patterns while remaining above their respective 200-day moving averages should be considered as candidates for purchase.

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About the Author
President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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