Bond S&P500

$TLT . Showing bearish signs.

Perhaps this is one of the confirmation signals that we have been waiting for.

For the last 1 month, the market has rallied. Despite the challenges in Eurozone, it continues to edge up further. The  saving grace is the movement has become smaller.

$TLT has rallied back in August last year and consolidated at the current range since October.

At this moment, it looks like it is going to fall off the cliff soon.

The price has just dipped below the kumo support.

Leading kumo has twisted and is showing bearish confirmation.

We can also see that the Tenkan sen and Kijun sen has crossed and giving another bearish confirmation.

All we need is for the Eurozone issue to trigger a ‘mad rush’ into USD and that is sufficient to make /ES lower.


EUR/USD Consolidating

EUR/USD pair has been consolidating on the Ichimoku Daily Chart.

Mostly, thanks to the Swiss intervention of propping up the Euros.

I am not too sure how long this can last. For now, we have  a support at 1.1923 which can be broken easily.

Just about any bad news from Europe can send it down setting a new low again.

On the longer term, the other question to ask is when will the US Fed raise interest rates.

Surely, that will also be problematic for Euro as well.

Russell 2000

Russell 2000 (RUT) : Fill the gap. Support level

RUT (along with many other counters) gap down on opening today.

It has since tried to fill the gap within the first half an hour.

Currently, it is just trading and hanging near to the support level 702.18 as indicated by the Chikou Span.

I doubt it will hold, unless Euro zone comes out with some positive news.

A fall below this will see our next target level shift to support at 678.