Sunday, February 28, 2021

Week Ending 2/29/21: Interest rates shot up. Bitcoin tumble.

Markets fell as interest rates shot up,  Gold and silver still diverging.  Bitcoin fell.



The S&P hit short term vM's to 3865.75, 3839.75, and 3816.  
vW's to 4021 and 4394.75 are currently still triggered, but testing the 4021 neckline.
vM to 3683.5 has formed and triggered. If price does go there it needs to recover 
from there, otherwise we will start to form vM's towards 3450 and possibly lower.



The Russell has triggered short term vM's to 
2159.1 and 2036.3 and formed vM to 1891.1 . 
Short term vW to 2339.6 was nulled.
Srill has several longer term vW's are triggered.



Bonds fell as interest rates jumped, hitting vM 188'10
Looks like it is attempting a bounce and has formed and 
triggered short term vM's to 197'23 and 196'04



2 Year Yield



Nasdaq has hit vM's 13178.75 and 12853
It has formed a vM to 11594.25 and a smaller 
vW to 13339.5, neither of which is triggered.



Gold still diverging from silver and 
sitting just above vM's 1711.1 and 1706.3
vM's from 1711.4 to 1385.7 are triggered.
It has also nulled vW's to 2000.1 and 2102.7



vW to 33.785 is triggered as well as vM's tp 22.545 and 21.900
Click for Update



Oil has formed some small vM's lower.
Longer term vW's from 80.82 to 114.07 triggered.



Lumber



The Dollar has hit vW target price 89.210 
It's currently battling between short term necklines.
Needs to hold 88.150 to avoid further selling towards 87.125,
and triggering newly formed vM to 73.340



The XLF has triggered large longer term pattern to 44.96



BTC:  vM to 42232.33 and 340035.10 are triggered.
If breaks recent low, vM to 29068.43 will be triggered.


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