About meSupratim Barman MSc(London). I live between the two vast and important cities of Kolkata and London; the extreme edges of what was the Colonial British Empire, observing the world undergo monumental change.
The 10Y yield has been falling since it peaked on the 5th of October and 8th of November 2018. On each leg down of the US10Y, ie; from the 8th of November till the 3rd of December 2018, from the 17th of April till the 3rd of June 2019 and from the 29th of July to the 8th of August 2019, the SPX has also correspondingly fallen.
However, the DXY, which has been...
The SPX is ranging within a Downward Sloping Bearish Wedge that is within strong resistance at 2940 and support at 2820.
IF, the wedge were to break, the SPX could fall to 2550, which is the 2009 BullRun TrendLine.
SPX has already broken thru the Dec18 low TrendLine and has fallen off ATH at 3020 and is just above the 200day MA at 2800.
The SPX is currently boxed into a range between 2940 and 2820. It is in a wedge which is sloping downwards. The SPX is making repeated efforts to break out of the box at 2940 but is forced back.
This box has occurred as soon as the SPX convincingly broke thru the upward trendline from the Dec18 lows when it fell off ATH at 3020.
This pattern is very similar to...
The Weekly SPX seems to be Back-Testing the Trendline extended between the Lows of week of the 2nd of March 2009 and the Low of week of the 8th of Feb 2016.
The SPX broke below the Trendline on the week of the 3rd of December 2018 and then began to Back-Test the line and eventually broke above it on the week of the 1st of April 2019, (April Fools' Day); it then...
To me, this current situation (25th of July 2019); on the SPX looks like a Double-Top. Maybe it isnt. Maybe it will blast through and form a Higher High. But if I was going by what we have seen so far, there was a similar sort of situation on the 12th of September and the 2nd of October 2018, when the SPX nosedived.
I say similar, because the previous ATH...
It looks like the Dow is beginning to return back within the downward trend line from the All Time High in Jan, 2018. The Maximum BaseLine Limit seems to be 23,500 and the Dow might test this soon. The Triangulation Pattern seems to be confirmed, with a Massive BreakOut Southwards possible, (especially given the rise in the 10Y TNote Yield).
I see some sort of situation, where the Highs are Getting Correspondingly Lower and there seems to be a Triangulation at work, which may lead to a sharp breakout, (nost probably downwards), in the next few trading days.