Stocks Analysis by Michael Kramer covering: US Dollar Japanese Yen, S&P 500, NVIDIA Corporation, US Dollar Index Futures. Read Michael Kramer's latest article on Investing.com
broke the rising wedge pattern we’ve been monitoring for some time. As of now, we’re seeing the effects of last week’s bearish engulfing pattern.
The 2B top pattern failed earlier this week. Currently, the rising wedge is broken, the engulfing pattern is playing out, and the bump-and-run pattern is still in play. This cycle has produced powerful signals in the past, including the 2000 and 2007 tops and even the 2009 low. So, we will continue to watch how these two cycles develop.continued to move higher yesterday, reaching 4.25%. The next level of resistance comes around 4.33%. Things will get interesting if the 10-year manages to push through because after that, it could run to around 4.7%.
The Philly Fed services prices paid and received significantly increased in October, while the Richmond Fed average wages rose sharply in October. This type of inflation is not the same as what we’ve been accustomed to. So, the 10-year may continue to decouple from oil.
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