Best Financial Markets Analysis Article The testing and retesting of the purple Orthodox Broadening Top appears to be finally over. This completes a reversal pattern (going down) after an 8.6 day correction from the May 18 low.

The next item on the agenda will be the breaking of the 129.55 low. This may happen in the overnight session, by all appearances. Keep your bear costume on, the party is about to begin.

From Tuesday’s high to the close on June 8 is 8.6 days. The decline is about to become much steeper and with more violent retracements.

VIX has broken out above its previous high and also made an appropriate reversal pattern, finding support at short-term trend support. It now appears ready to proceed higher.

HYG has exceeded a previous Head & Shoulders target. It has back-tested the Broadening Wedge Formation with a target of 71.28 and appears prepared to break down through a new Head & Shoulders neckline with a minimum target of 83.49.

High Yield will be hurting.

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only. There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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