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.
for example purchased $45 bn of its stock last year and is expected to increase its programme this month.