Point & Figure Chart-book
Glancing at the chartbook this evening, I stumbled across a few point and figure 3 box reversal charts:
SPY with the 204 trigger breakout, but has now printed a ‘long tail up.’ If a further stall occurs with some downside, there could be a signal to a high pole warning is in play.
US Dollar sits in a 2-3 year bracket with a probe to the lower extreme. There is a risk of a multi-bottom breakdown signal if 91/90 tags, indicating a new wave of overhead supply unlocking.
UST10Y compression is forming, which tends to indicate an imbalance. Watch extremes for directional imbalance hints..
With the global synchronized growth narrative, central banks are adamant about busting commodities higher. Watch 196 for a trigger, otherwise, this will fade….
Technology Select Sector <XLK> with a massive ‘long tail up’. 65 is the top print, watching for exhaustion…
Dow Jones Utility Average signaling a ‘double bottom breakdown’.
Silver compressing and attempting a rebalancing before major reversal.