$TF_F $RUT The nested Bullish Shark and Bullish Alternate Bat patterns on $IWM suggest a move to 114.50-115 - late Q4 2014's lows - to fully build out. Objectives off a bounce there lie at nodes around 122 and 123.75. Further afield, there is the potential where resistance ~122 holds for a Bearish 5-0 to develop. $TF_F $RUT
The Fed has failed to meet it's price stability mandate for nearly half the time elapsed since it launched the first round of QE in late 2008. Net of intra-period fluctuations (which were worse), all three formal rounds of QE saw the long end of the curve rise rather than fall. In fact, only after LSAP balance sheet expansion ended did rates drop; and...
VIX congestion states (i.e. dragging along 12 in a narrow range) a recurrent feature of last year; but the time between tagging this VXV/VIX level and the beginning of the subsequent pullback (bottom panel) is relatively brief. $SPY $VXV $VXX
its advance has effectively stalled just above it's Deep Crab PRZ, and at a confluence of APF and structured resistance. Reflecting the ebb in momentum, XLV's rate-of-change is at its lowest since December 2012.
XLK's rising cyclical trend line off the late 2008 lows is nominally broken. After a sustained period >70 RSI, sliding further below: this momentum cross has marked a major top in the preceding cycles.