The bonds chart

The bonds chart

Taking a quick look at bonds, we can see that over the last few weeks, the bonds have produced an ASCENDING TRIANGLE.

These are seen as bullish patterns and more often then not precede higher prices, especially if we break that top resistance point at 133.40 mark.

If we do break this top resistance, that will probably not bode well for the market.  Time will tell.

bonds chart

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bullish pennant - market breakout

bullish pennant - market breakout

it seems we were correct with our bullish pennant and  market breakout call for the US dollar just 24 hours ago.

pennant breakout

As you can see below, the USD took just 24 hours for the pennant to break to the upside just as we were  predicted :-)

This bullish pennant  and market breakout for the US dollar makes it even stronger now and it may be a game changer.

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Bonds Weekly Chart - The Bonds Weekly Chart

Bonds Weekly Chart 

The Bonds Weekly Chart is clearly in a downwards channel at the moment. With a target of 147. We have noticed over the last week or two money coming out of the stock and equities, and into the USD and bonds.

The Bonds Weekly Chart is also showing us that things are very very oversold longer term. So we would not be surprised to see Bonds Weekly Chart go up and reach the 147 market and then possibly break its falling resistance line and head higher.

The Bonds Weekly Chart is very telling and we will monitor this over the coming weeks.

bonds weekly chart

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Broke To The Upside

Well we were saying the range on the S&P should be watched carefully, and said it was not long till we broke either upside or downside.

You can see in our LAST POST HERE

We broke to the upside, however I would not call it a convincing break!. The bulls yet again still have the upper hand I think. We are still up past our 1500 level we called months ago, and still the bears do not seem to be making their mark.

Yes, we are still in a bull market, however I can say to you that we are starting to see some very interesting signals on the charts, and a few warning signs that market may soon get a bit tired.


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Nasdaq Hourly Chart

Nasdaq Hourly Chart

Today we posted an update HERE on the nasdaq chart. We made some notes on how the nasdaq the last few days, has been doing nothing more than just coiling or in a low range tight price pattern and working out where it wants to go next.

If we have a look at the HOURLY Nasdaq chart, we can see that the very quick upwards rally has left a gap on the chart. This is highly unusual and we must warn you that these gaps do eventually close, sooner or later.

For now, however, since the 3rd of January we have topped and just going sideways, however on the nasdaq chart   the nasdaq seems to have found a bit of support, and we are oversold on the hourly, which means that in the next few days it is probable we will see some sort of bounce, and even a break out to the upside, depending on how strong the bulls feel.

Nasdaq Hourly Chart

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