Consolidation trading once more... Treasuries
Large caps look set to finish the week inside their recent consolidations. The S&P and Dow both have well formed pennants which - if they were to follow trend - will break down.
Only tech averages look on course to maintain this week's breakouts. Nasdaq below

The global economic slowdown with falling commodity prices strongly suggests inflation is no longer a problem; so interest rate hikes are unlikely. The 10-year yield is marking an important test of 5-month support and the 200-day MA; assumptions point to a bounce, but my hunch says lower from here.

Remember - price action always trumps opinion (no matter where you read it)
**Correction ** Removed my gold comments because ehhh.... I referred to a 2006 chart. Slap on wrist. Nobody noticed (probably not a good thing!)
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
Only tech averages look on course to maintain this week's breakouts. Nasdaq below
The global economic slowdown with falling commodity prices strongly suggests inflation is no longer a problem; so interest rate hikes are unlikely. The 10-year yield is marking an important test of 5-month support and the 200-day MA; assumptions point to a bounce, but my hunch says lower from here.
Remember - price action always trumps opinion (no matter where you read it)
**Correction ** Removed my gold comments because ehhh.... I referred to a 2006 chart. Slap on wrist. Nobody noticed (probably not a good thing!)
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website