Charts Of The Month

Let's get right to it, three charts all sporting one very tradable price pattern:

SPY 2-Day

Minimum expectation is a continuation of the decline that started at the late January top to reach at least the mid-channel dashed line, at approximately 560 by late spring and possibly the lower channel support at around 475 by late fall.

BTC 

Bitcoin is an asset class in and of itself, but the pattern of retracement after bumping into the upper parallel trend channel is the same, i.e., expect a retrace to at least the mid channel dashed line and possibly all the way down to lower channel support ($30K).

Spot Gold

Finally, same pattern in Spot Gold, where touching the upper parallel trend channel leads to a retracement to at least mid-channel dashed line and potentially all the way down to lower trend channel support. 

 

Bottom Line: Stock indices lower into at least June.