GSG (GSCI) - Faces serious resistance and divergent RSI Red line, once support, become resistance since 2015.
US10Y treasury yields broke out to the upside the intermediate yellow down trend line. May test the longer 41 year red down trend line that started in 1980. If that red is broken with a bullish breakout, watch out inflated stock markets around the World!
(Dow Jones) DJI - 2B or not 2B reversal, that is the question? Note the gap down and failure to complete a daily candle that holds 'above the old Dow Jones high'. Note also, if the Dow Jones index drops away from here a 2B bearish reversal, neither the S&P500 nor Nasdaq 100 indexes make new highs, consistent with their 1-2-3 bearish reversals themselves.
Crude Oil - Reverse Head and Shoulders Neckline broken to the upside.
NAS100USD (NAS100) Potential for bearish 1-2-3 or 2B reversal pattern For more info on 1-2-3 and 2B reversal patterns, see link below: www.bing.com www.bing.com
US10Y 1-2-3 bearish reversal or 2B bearish reversal? Short term broke red down trend line to head higher, but, eventually a later year bearish 1-2-3 reversal pattern or 2B reversal pattern?
SPX500 (SPX500USD) - New down trend intact. October is going to be an interesting month.
NASDAQ100 - still a way to go to complete a '2B' reversal pattern.
NiKKEI 225 (NI225) Potentially nearing '2B' reversal pattern. Once prices breaks down below red line, potential confirmation of '2B' top reversal pattern completion.
SOUTH KOREAN KOSPI INDEX - Barely holding above water Once red line breaks, potentially, a completed '2B' reversal pattern.
CN50USD - Still has further to fall to break the UpTrend. Unfolding Evergrande crisis may take up to 12 months to fully blow up as crisis that takes the World's economy down.. Like the LTCM or Subprime crisis, took 12 months to fully realize as the Asian financial crisis and GFC respectively.
US10Y - Fails to break downtrend. Likely US10Y will continue to fall as the fallout of the China Evergrande crisis contagion spreads.
Chinese Stock index still in positive uptrend for now on longer term charts.
The last time the blue down trend line was busted, it lead to massive further volatility. Watch the red down trend line now. If that gets breached, watch out S&P500!
Nasdaq100 index- Rising Wedge pattern. 60% probability of downward breakout. Downward breakouts or some of the worst performers with unacceptably high failure rates (according the Bulkowski research). See link below for further details: thepatternsite.com
IVV- Testing resistance in channel. Likely, good shorting opportunity.
XAUUSD - At support. Within a rising wedge. Potential reversal.