Stock indices fell again for the week constructing larger patterns lower, while bonds rallied back above the 149'24 level. the Dollar continues to look strong while oil is getting hammered.
The S&P has not been able to hold the vM 2489.5 neckline lower,
and has now formed and triggered a vM to 2273.
Currently expecting 2489.5, it will need to rebound from there to avoid further selling towards 2273.
Another possibility could be a W with a base near the 2070-ish area.
The Russell has triggered another vM to 1218.2
and is sitting just above the neckline (currently 1468).
Next low is 1415.10 mad back in February.
The Nasdaq has formed and triggered a new vM lower as well.
VM's to 6202.75 and 5478.5 are triggered.
The Dow has vM's triggered to 23292 and 21698
The XLF will need stocks to rally to pull it higher.
Has patterns forming higher, but still looks ugly.
Oil continues to get hammered and busting through target prices.
$40 wouldn't surprise me at all.
The dollar has a vM to 94.410 formed, but ultimately looks like it wants higher.
From 10/28/18
Gold has formed and triggered a vM to 1121.2.
which is very likely if the Dollar continues to rise.
Needs to hold 1230 area to avoid further selling towards 1121.2,
which will likely be a buyin opportunity for vW to 1708.3
Bonds have rallied back above 149'24,
and have formed and triggered vW to 155'28
