This is an updated version of the chart I made a few weeks ago . I used the SPY ETF this time, and to better display the past week's market sentiment, switched to weekly candles.
•A key assumption is that the right shoulder is not exceeded. Nonetheless, this seems unlikely given the likelihood of negative fundamental events relating to the economy and earnings....
•A key assumption is that the right shoulder is not exceeded. Nonetheless, this seems unlikely given the likelihood of negative fundamental events relating to the economy and earnings .
•Much like the Nikkei 225 crash of 1989, the 100 MA's could end up stopping the bounce dead in its tracks. Hence, it's very possible that consolidation will continue in the...
Since 2010, the 10-year yield has fallen from almost 4% to under 2%. This has been a continuation of the 30+ year downtrend, which originated when 10-year treasuries yielded almost 10%! As yields have rebounded from the recent 2019 low of 1.4% (which didn't go as low as the 1.35% we saw in 2016), an inverse head-and-shoulders reversal has become increasingly...
