MrAndroid

MrAndroid

On the SPY ETF the recent rally in price is divergent with volume which has been decreasing over recent days. There is also a new shorter term downtrend line just above this level. Tomorrow could see a reversal.

MrAndroid

The last few days have seen several candles with long lower wicks on them at a key support level of 3.4%. It looks like yields may rise in the near future (ie bonds sell off).

MrAndroid

This chart of the ratio of stocks to gold shows a current descending triangle pattern within an ascending broadening wedge longer term structure. It may we be that gold is about to outperform stocks. This does not mean it is necessarily a good point to get into gold though.

MrAndroid

Fib retracement on Meta is in the 0.5 to 0.62 range and I can see that you can draw a channel downtrend with the current price being very close to the top of this channel. Could be a shorting opportunity.

MrAndroid

MOVE is a bond market volatility index and it is now at the highest level since 2009. Yields have been reducing at a time when central banks are trying to increase liquidity. Somewhat ominous.

MrAndroid

The big pink dashed trendline here is the mid line of a very large broadening ascending wedge pattern that seems to have been developing since 2018. This is a bearish pattern. The inverse head and shoulders of recent weeks is a very bullish pattern that does seem to be playing out however there are also contra patterns here.

MrAndroid

Today the price of gold in British Pounds has exceeded the previous all time high breaking the top resistance line. I will now look for a re-test of that level to see whether or not this is a false breakout.

MrAndroid

Today the 10YY has proven that the last breakout turned out to be false as Treasuries are being bought hard. I think this is a fear move because of banking issues. Usually a lower interest rate / yield would be positive for stocks but not necessarily in the face of other bad events happening.

MrAndroid

Bitcoin pattern of inverse head and shoulders has emerged. Yesterday price sprung above the neckline only to wick back down below it again. Interesting.

MrAndroid

A previous long term high can act as a relevant support or resistance line even though it is over a decade old. That's where we are at now. I see the current gold price as a down trend in the channel indicated.

MrAndroid

The trendline from the bear market and the highest area of volume resistance in months now are acting as a barrier for further upside. Difficult to see how large traders can get this above this level.

MrAndroid

TLT looks bullish with a double bottom W pattern emerging today as the flight to 'safety' of bonds has been triggered by the SVB situation. The move is not a breakout yet and given past horrible fakeouts I would wait patiently until a breakout is properly confirmed.

MrAndroid

Oil Giant BP has enjoyed a spectacular run over the last couple of years. Now it looks exhausted with the price hitting the level of historic resistance that has lasted many years. The recent 2 weeks show a double top M pattern with a failure to break above the previous week's high.

MrAndroid

Recent daily chart shows a head and shoulders pattern indicating a risk of severe drop. Also the breakout from the downtrend line increasingly looks like a false one.

MrAndroid

It looks possibly that the recent all time high in the British FTSE100 index was a false breakout providing liquidity to shorts. Today the index is sharply down.

MrAndroid

The 2 year yield has dropped below the Fed Funds rate. This appears to be the bond market pricing in an imminent Fed pivot.

MrAndroid

The S&P500 today has breached significant trendlines and lines of support. I think a new downtrend is inevitable.

MrAndroid

It looks like todays vibes on inflation from Powel are spiking the dollar implying longer term high interest rates.