@factor_members This is one of Aksels from a recent report of his. Up almost 1% today v DAX down 2% AlzChem (ACT1.DE) I hope you don’t mind me posting it Aksel. @TechCharts
@factor_members Peter, Looking at the V bottom and the 4H chart can you see a H&S bottom in $NDX and top in Crude $CRU. Both not completed but close to necklines.
@factor_members Could the pennant be viewed as part of a launching pattern from a longer term rounding bottom or cup and handle from 2008 - 2026: Wisdom Tree Soybean Oil (SOYO)
$DXY what will this consolidation prove to be?
A reversal like 2014 and 2021?
OR
a bearish continuation that breaks down the long-term channel?
Levels to monitor are labelled on the chart. It requires monthly closing.
Former Goldman Sachs CEO Lloyd Blankfein said it a few days ago:
"It sort of smells like that kind of moment again. I don't feel the storm, but the horses are starting to whinny in the corral."
Then Jamie Dimon: "We did see this in 2005 and 2006 and 2007,almost the same thing. Everyone was making a lot of money. People were leveraging to the hilt. The sky was the limit."
These are guys who sat in the big chair at the biggest banks on Earth during the last crisis.
And they're both independently connecting the same dots.
Sizable credit bubble reversing.
Hedge funds getting hit with withdrawals.
Fund managers insisting everything is fine while gating investors.
Officials saying it's contained.
We heard all of this in 2007. Verbatim.
Now add an oil shock on top. Oil hit $120, dropped to $70, and is clawing back toward $100 despite governments releasing strategic reserves.
Sound familiar? It should. There was an even bigger oil shock in 2007-2008 that everyone's forgotten about because the credit crisis overshadowed it.
Doesn't mean 2008 is guaranteed. But the range of outcomes is narrowing in a direction nobody wants.
I'm going live March 26 at 6PM ET to walk through all of it. Where we are. What's accelerating. Where the signals point from here.
Register here
eurodollar-university.com/home-page-web
@factor_members Uranium play, Yellow Cake (YCA.L), formed a head and shoulders reversal, retested the neckline and now looks to be forming (if completed) a small H&S reversal at the neckline.