Updating this blog post from early-July, you can see that Berkshire Hathaway has broken out from that multi-year symmetrical triangle we had been observing to highs not seen since 2008. Going forward, if this breakout holds above the $131,500 area it should bode well for stocks as a whole given how much more economically-sensitive Berkshire’s portfolio of businesses has become in recent years.
In addition, I want to point out how promising the symmetrical triangle breakout was given the late-stages of the pattern not seeing price dip back down below to test the support trendline. Instead, for much of 2012 price was hovering near the resistance trendline as sellers presumably vanished and pent-up demand took hold.
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