The 2 US Markets That Matter The Most...Are Coiling Up
Both the S & P 500 and the DOW are forming a symmetric triangle. Symmetric triangles are usually considered a "consolidation pattern" and break in the direction of the trend that was in effect before the pattern appeared.
S& P 500
DOW
This is the first time since 2015 that the markets are forming supply zones in which sell orders are waiting for price to get to. However, the long term trend is still up. With all the uncertainty and with the 10 yr bond yield moving outside it's channel (click on Wall Street Secrets Revealed #3 – Timing The Next Stock Market Crash below), I think the Markets are topping. However, this topping out may take 12-18 months before we get a sell signal.
Until next time.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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