The US Treasury Bond futures are forming another large wedge. You can see what happened after the last large bond wedge formed and broke its resistance upward. Also notice how the second valley is occurring at a new, long awaited, all time high. The bond wedge in Oct 2019 formed its 2nd trough as the SPY was breaking a long awaited new all time high too.

I am estimating that this scenario plays out again. It took about 2-3 months for the UB to break out of its wedge in Jan 2020. One month later, the SPY sold off . The wedge this time looks to be about 3 times as large which leaves us with the market climbing through the rest of the year with the large sell off coming in the first quarter of 2021.

This is just my opinion, not trading advice.
Beyond Technical AnalysisSPDR S&P 500 ETF (SPY) Trend Analysisub

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