Bearish flags in the big 4 big cap indices.
Bearish wedge in the SEMIS.
Small, mid, foreign, transports still acting horrid.
FINANCIALS no friends. REGIONALS much worse.
Fewer and fewer working. More and more not.
Do bearish patterns have to resolve bearishly? Normally, yes…but these days, a good tweet or a large rate cut could change the playing field. but normally, yes.
To be clear, if the lows pf the past few weeks get taken out, we suspect and expect institutions to recognize and act accordingly. React first, ask questions later.
GOLD/SILVER still en fuego.
BONDS still en fuego.
Extended can become more extended in GOLD/SILVER/BONDS. Just know, eventually, all revert back to the norm which is eventually the 50 day moving average.