Inverse Head & Shoulders Reversal Pattern Confirmed
An inverse Head & Shoulders has confirmed the neckline with a price target of 127 by the end of June.
Last Jan I posted this recession projection for TLT
And then I projected the spike in yields on the 10Yr right before the Aug Rug Pull from Jerome Powell.
Finally catching the double bottom reversal at the bottom at the lows of 91.85
Bond bears are calling this reversal a trap/mistake suggesting a Mistake in 2 rate cuts in the 2nd half of 2023.
I only monitor TLT for technical analysis and to confirm / invalidate trends for the S&P 500.
Not financial or trading advice.
Last Jan I posted this recession projection for TLT
And then I projected the spike in yields on the 10Yr right before the Aug Rug Pull from Jerome Powell.
Finally catching the double bottom reversal at the bottom at the lows of 91.85
Bond bears are calling this reversal a trap/mistake suggesting a Mistake in 2 rate cuts in the 2nd half of 2023.
I only monitor TLT for technical analysis and to confirm / invalidate trends for the S&P 500.
Not financial or trading advice.
This pattern can also be a bear flag like on the weekly and ultra futures.
FEB 1st FOMC - pivotal in deciding direction for the rest of 2023.
FEB 14th CPI - several CPI wins now (even when bad). Higher than expected CPI in FEB would mean a certain bear flag.
FEB 16 PPI - echo of CPI. higher will make sell off worse.