Market Outlook: Most global stock bourses are following a classic Elliott Wave count from the March 2009 lows - being a 5-wave advance followed by an A-B-C correction. The 5-wave advance from the March 2009 lows to the April 2011 peak was a typical rebound bull that usually follows a severe bear such as the 2007-2008 financial crisis. A micro-bear market will usually follow a rebound bull. The current micro-bear in most global markets is tracing out a typical A-B-C correction which is almost complete. In the example of the Dow Industrials, we are almost now at support at the 11,500 level. Claymore Global Agriculture ETF (COW TSX) Manulife (MFC TSX) E.I. du Pont de Nemours & Company (DD NYSE) Total Average Return: +13.62%Bill Carrigan, technical analyst, Getting Technical Info Services
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Disclosure: Personal Family Portfolio/Fund CCO N N N LSG N N Y RIM N N Y PAST PICKS: August 19, 2010
Then: $19.08 Now: $19.97 +4.66% TR: +5.00% Then: $12.31 Now: $13.88 +12.75% TR: +15.38% Then: $40.59 Now: $47.76 +17.66% TR: +20.48% Disclosure: Personal Family Portfolio/Fund COW N N N MFC N N N DD N N N