Bank of America, Trend Is Still Full Steam Ahead

By: readtheticker | Tue, Apr 17, 2012
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It is not hard to find bearish fundamentals for Bank Of America (BAC), yet this stock has doubled in a few short months as it represents the degree of control the central planners have on the stock market. If BAC is up then central planners are in control. It is time to review BAC's trend.

The charts below show that Bank of America (BAC) is a buy, the last serious down day was related to Spain CDS scare. With the French elections this week one has to wonder if that could shake BAC lower. Maybe that is why when the SP500 moved up 2% today, BAC did not budge much (a laggard).

The status at the moment is the BAC is in a strong Gann Angle trend of 1x2 (two units of price for one unit of time) and its no slowed down yet. Plus cycle's show that the next push up is due very soon.

Gann Chart..

Gann Chart

Cycle Chart...

Cycle Chart
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Author: readtheticker

readtheticker
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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/