CLICK ON CHART TO ENLARGE
Two times in the past 7-weeks the S&P 500, on a weekly basis, has created bullish reversal patterns (bullish wicks) at 2-year horizontal support.
At nearly the same time, interest sensitive Government Bond ETF (TLT) and Utilities (XLU) have created bearish reversal patterns (bearish wicks) at resistance lines.
Potential message here, multi-month trend reversal could be in the making!
–
Dow up 1038 points in the last 3 weeks. No worry’s all of sudden we’re all repaired and the world is a perfect place. Profit taking is a thing of the past lately and it scares me.