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Rising wedge? So the rebound would be sold somewhere?
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Nothing to say, so far it's a range day. We may have a pennant breakout but sometimes the initial breakout is false, the real breakout is on the opposite side. Wait and see.
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The mighty dollar, ordinarily a safe haven during times of market-based stress, is falling apart, and its ongoing year-to-date slide is pointing to a much bigger problem for all U.S. assets.
That’s because the weakening greenback is being accompanied by a dramatic selloff in U.S. government debt and whipsaw action in all three major stock indexes on Friday, following a historic rally and big selloffs in equities over the past week. Such coinciding moves — falling dollar, bonds and equities — like the ones seen this week are “rare, ugly and worrying,” according to a team at Evercore ISI, a research arm of of New York-based investment-banking advisory firm Evercore.
On Friday, the greenback touched its lowest levels in two to three years, as tariff-driven volatility continued to grip U.S. financial markets. Analysts and strategists were grasping for historical comparisons to what investors and traders worldwide are currently witnessing.
Charts posted are not recommendations. They are just a sharing of information.
Broke the previous high then kissed the breakout point goodbye, looking good for bulls.
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Back down to the scene of the crime (where Fed said we are ready to support bond market). Now bulls have to do it on their own. Who would be brave enough to hold over the weekend?