Wall Street

Wall Street has again reached above the 13000 levels. The chart support has being around 12550 and has now break the 12990 resistance that was holding it back in the last three small corrections.

The last three attempts to fall into negative territory failed and it is now expected to reach new highs.

The index has performed well compared with his overseas peers. In the last ten years the higher point was just before the financial crisis, in the last three month of 2007. Since the bottoming in 2009 the index has recovered 80% of its value.

The index individuals shares prices are considered cheap. If a strong rally get behind the index we could witness a historical performance by Wall Street after one of the longest financial crisis.

There are still issues in the global economy and the USA itself that need careful attention. But looking backwards there are no doubts of the massive recovery effort in the Index.

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