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Last week was very important to U.S. equity charts, and I have selected from my ETF watch list a collection of seven in particular whose patterns merit close watching next week.
The first is emerging markets, which have completed a small but well-defined reversal pattern. Take note how prices have broken the year-long channel and that a move below the horizontal line will complete the pattern.
I find this fascinating: examine the symbol FR:T10Y2Y, the 10 year rate minus the 2 year rate. This concoction has done a crackerjack job of predicting every single recession, and the most recent is no exception. I have tinted each instance when this data point went negative, and then reversed, to highlight the “V” bounce in this spread.
Some people have accused me of being smart. I fervently disagree. I’d like to offer into evidence something which the Virtual Trading system has taught me. Plus, I’d like to encourage you folks to use the system not so much for the ego-gratifying chance to get onto the Top Ten list, but to learn something about yourself, as I have recently done.
Last night, I was doing some serious spelunking in my attic and storage closets for some old files, and I happened to come across a large brown box labeled, simply, “Memories.”
One thing long-time readers may have garnered about me is that I am sentimental to a fault. Or perhaps they haven’t. I’m not sure if I broadcast that kind of thing. But under this stoic figure lies a mushy mass of emotions and neuroses, all bundled together with the bailing wire of a few fond memories. Let’s face it, a middle-aged man who still tears up at the Spock death scene in Wrath of Khan isn’t particularly steely.
I am always interested to delve into the past, however, since a lot of interesting events have taken place in my time so far on this planet. It’s somewhat chilling, too. But I’ll get to that in a moment. For now, I offer something a bit more banal, which is this:
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