by Martin Armstrong
Armstrong Economics
QUESTION: Marty; You said we could see new highs form in 2016 for the Dow, but the breakout is more likely in 2017. Has that changed? – BD
ANSWER: We will be updated the share markets shortly. No, that has not changed yet. We did not elect the Quarter Bullish Reversal at the end of June. We warned if that were elected, then we could see the 20,000 level by September. We are fooling around with the first major resistance level at the 18500 zone. It is possible that we could punch through this resistance to reach the 20,000 level and then back-off one more time before we get the breakout of Phase Transition.