LMT set to resume channel ascent to $239 or ~+14%
On the weekly chart, technicals support a move up to $239, or ~14%. The daily shows a potential pause zone b/w 219.75 and 220.00.
From a macro perspective, Obama's dealings with Iran are being enabled because of US armorment "gifts" to regional partners. While I won't opine on whether a deal is good or bad, a deal will force the Middle East to beef up their military spending. Moreover, Republican ascendancy - even just the potential for a win, in 2016 is conventionally bullish for the US military-industrial complex.
From a macro perspective, Obama's dealings with Iran are being enabled because of US armorment "gifts" to regional partners. While I won't opine on whether a deal is good or bad, a deal will force the Middle East to beef up their military spending. Moreover, Republican ascendancy - even just the potential for a win, in 2016 is conventionally bullish for the US military-industrial complex.