What I’m Seeing Here

Sorry to keep being the party pooper, but I’m still seeing lots of risk off warnings here. I know, I know, it gets tiresome, but, these are the kinds of signals that saved me in early 2020. My big mistake was not listening to these signals when they all reversed in the summer after the COVID crash, so I must listen to them here. I was in denial then given the lockdowns.

I will just run through them as a list here:

1. $BTC continues to slide. While, yesterday, everyone was celebrating its reaching a prior area of support (orange line) and calling the lows “in,” today it broke again and now  threatens to lose that support.

BTC

2. $JNK is secretly exiting the room, even now closing under this structure.

JNK

3. Dr. $COPPER should have rallied powerfully out of this bull wedge, but did so only in 3 waves, and now threatens to lose the structure altogether. Having failed to make new highs when it rallied, it has strictly-speaking been in a downtrend since May.

COPPER

4. The $VIX is looking supremely dangerous here, trending up with the market, and even rallying into the close today above the Sven Wedge trend line.

VIX

5. The $10YRYLD has failed to recapture the neckline of the large inverse head and shoulders pattern. Someone is moving into bonds here while the Naz gets giddy and everyone gets sucked in. It is now trending down.

10YRYLD

6. Like Bitcoin, everyone celebrated $RTY‘s retest yesterday (green arrow), but while we’re all preoccupied with $AAPL, did anyone see that quietly it failed today?

RTY

7. Also, the Lira continues to crumble, breadth in the markets has collapsed, and plenty of other things.


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