SG10Y forewarns of a blowout top in the S&P500...
The SG10Y had been previously established to be a reliable indicator of the US S&P500 index, and US markets in general. It has had a 100% read accuracy in forewarning of imminent volatility, particularly when the SG10Y breaks out of trendlines.
So the end of the week saw Nvidia spark a rally in the S&P500, and closing at record highs for the week.
Usually, I would be excited about this, but the SG10Y break out of the Finbonacci fan trendline, as well as the correlated bearish zone for S&P500 (red box) and MACD turning more bullish again... all these tells of a blow out top on the S&P500, which we must be wary about.
Clear indicator that in the coming week or two, we should see a quick reversal on the S&P500.
Check out the previous linked posts to see how reliable and accurate this has been since I started tracking and reporting.
Stay safe!
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