A Powerful Resistance

The chart below is of the Major Market Index (symbol $XMI). Note of the long-term trendline in green.

XMI Index ChartXMI Index Chart

In particular, notice that this line was broken on Feb. 28 of this year, having sustained itself for nearly a dozen years. More importantly, look at where we are at this very moment. Thanks to the reckless madness of the Fed, the trillions of dollars shoved down the oesophagus of worldwide equities has brought us back precisely and exactly the underside of the broken trendline. Food for thought.

XMI ChartXMI ChartOriginal Article

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