Reviewinig the Leading Inidcator Weekly panel...
The JNK has a Sell signal, retraced and may break down to a lower low target, as previously expected. Not yet happening, but with a lower high, the bias is closer to the downside.
The IWM (Russell 2000 ETF) also has a Sell signal and lower high. Waiting for a lower low confirmation with a break of support.
The DJT is also similar.
The Value Line failed to close the recent gap, suggesting downside bias.
The TIPS clearly broke down through two support levels with a system Sell signal. So this one committed.
All the above have MACD technically bearish bias.
The TLT is oddly breaking down too. No comments about this at this point of time. Just unusual.
The VIX is also unusually complacent, being <20. Technically seeing a possible spike some time in the next two weeks or so.
I just added the Copper futures in the panel... according to Russell Napier, Copper futures is also one of the leading indicators we can use. For now, it is ranging and not committed to any trend.
I hope we get some committed trend soon!
Stay safe!
The JNK has a Sell signal, retraced and may break down to a lower low target, as previously expected. Not yet happening, but with a lower high, the bias is closer to the downside.
The IWM (Russell 2000 ETF) also has a Sell signal and lower high. Waiting for a lower low confirmation with a break of support.
The DJT is also similar.
The Value Line failed to close the recent gap, suggesting downside bias.
The TIPS clearly broke down through two support levels with a system Sell signal. So this one committed.
All the above have MACD technically bearish bias.
The TLT is oddly breaking down too. No comments about this at this point of time. Just unusual.
The VIX is also unusually complacent, being <20. Technically seeing a possible spike some time in the next two weeks or so.
I just added the Copper futures in the panel... according to Russell Napier, Copper futures is also one of the leading indicators we can use. For now, it is ranging and not committed to any trend.
I hope we get some committed trend soon!
Stay safe!
