Weekend July 3 2021
I looked thru the graphs of the Dow 30 and here are some that caught my eye.
All these examples had a good run from the last November low. But they all look done for now. After May Go Away.
Back in the 1960s IBM was THE tech stock. And it has come back in cloud computing. But it fell 4.64% Friday.
The big chip maker Intel has a big gap on its chart, Note the MAs are converging the sign of a trend change.
Here is a leading consumer staple, PG. It peaked last November when others bottomed. the rebound from March is not settinga new high.
Like Intel, ATT has a big gap on its chart, a good example of how mood turns on the proverbial dime.
We are slowly turning and the top in stocks should be occurring now, indeed new highs on some indexes Friday.
Bonds
I was early a week ago Friday but I think we have plenty of time. Bond should top in price with stocks in this time period.
The five waves of the larger C wave are now clear. This fifth wave of C should peak this next week.
TBF Short bond fund is the mirror image of TLT above
Five should extend to a new low for TBF, a new high for TLT by this next Friday.
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