Rounding Bottom is not a commonly spotted chart pattern. We find one in the monthly chart of US 2-year Treasury Note Yield from 2009 to mid-2017. Chart pinned here for future studying reference.
May 2018, Straits Times Index was down 185.75 points or 5.14% over end of April. Out of 30 constituent stocks, 22 end in the red. ComfortDelgro and Genting Singapore are gain leaders. Triple Top reversal pattern hinted in STI chart.
AUDSGD prints a high probability reversal pattern with a combination of multiple bullish features including 1) confluence of trend lines on weekly 2) W-shaped double bottom on daily chart 3) bullish expansion terminated previous week-week trend.
Copper, DAX30 and FT100 show different but compelling potential bearish reversal setups. DAX30 and FT100 are loss leaders among major stock indices. Copper prices on the other hand has a positive correlation with stock indices so bearish setups in these three should be treated as confluent signals.
This is a post-CNY update with a look at CME odds of a March rate hike (83%). Additionally I take a closer look at JP225 and SG30. JP225 is clearly the weaker leg in the correction and their relative performance suggests JP225 has more to lose. For SG30, recall that 399 is a strong level to test.
If S&P500 continues to weaken, Real Estate (XLRE) could be next sector to tip into red. Chart pattern shows a bearish divergence and rising wedge that signals potential reversal.
AUDUSD printed a new 52-week high and terminated a year – year down trend since 2013. Bullish reversal pattern. Over a longer time frame, we can see this as part of long term strengthening.