The market should move higher next year, but don't expect a repeat of 2003's bullish advance. The economic expansion may run out of gas in the months ahead, and the next recession could emerge in the next 24 to 48 months. In turn, this might trigger the next leg in the secular decline that began almost five years ago.Past price action can predict the market's future with great accuracy. As it turns out, the fall rally is sitting just above levels that have triggered key reversals in the past, and despite the current euphoria, it may not be any different this time around.
2005: A Move Higher, Until...
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