This simplified construction is a combination of Gann and Fibonacci analysis, and I apologize for using the three day chart for reasons of scale. Corporate buyback authorizations for February 2015 were $118 bn - an all time record. The FT reported recently that S&P companies spent more than $900 bn on share buybacks and dividends over the past 12 months and has been a key driver in the six year rally.
This situation is probably not going to stop any time soon, so on that basis the trend can continue.
Apple for example purchased $45 bn of its stock last year and is expected to increase its programme this month.
This situation is probably not going to stop any time soon, so on that basis the trend can continue.
Apple for example purchased $45 bn of its stock last year and is expected to increase its programme this month.