SG10Y forewarns of a blowout top in the S&P500...

24 Feb

The SG10Y had been previously established to be a reliable indicator of the US S&P500 index, and US markets in general. It has had a 100% read accuracy in forewarning of imminent volatility, particularly when the SG10Y breaks out of trendlines.

So the end of the week saw Nvidia spark a rally in the S&P500, and closing at record highs for the week.

Usually, I would be excited about this, but the SG10Y break out of the Finbonacci fan trendline, as well as the correlated bearish zone for S&P500 (red box) and MACD turning more bullish again... all these tells of a blow out top on the S&P500, which we must be wary about.

Clear indicator that in the coming week or two, we should see a quick reversal on the S&P500.

Check out the previous linked posts to see how reliable and accurate this has been since I started tracking and reporting.

Stay safe!