The combination of still overwhelmingly bullish investor sentiment and the exceedingly narrow breadth of participation of S&P issues, coupled with the spikes in oil prices and 10-year Treasury yields, suggests to us that primary wave (2) up topped -- as previously suggested -- on July 27th, and that primary wave (3) down is now in progress. We expect prices to carry to significant new bear market lows in the months immediately ahead.
00:00 Intro 02:24 Investor Sentiment Still Ebullient 04:53 Market Breadth is Very Narrow 07:15 Crude Realities 09:22 10-Year Treasury Yields Breaking Out 11:40 Elliott Wave Analysis: Primary Wave (3) Down Now in Progress
––––– ✅ Enjoy this video? Subscribe to StockCharts TV on YouTube to watch more great content from top financial experts, with new content posted daily: https://tinyurl.com/wvet7qj
👀 See what better financial charting can do for you! Start your FREE 1-month trial today at https://stockcharts.com
ℹ️ ABOUT STOCKCHARTS StockCharts.com is the web's leading technical analysis and financial charting platform. Trusted by millions of online investors around the world, the company has been an industry leader in the financial technology space for more than two decades. With innovative, award-winning charting and analysis tools, our mission is to help you better analyze the markets, monitor and manage your portfolios, find promising new stocks and funds to buy, and ultimately make smarter investment decisions.
ℹ️ ABOUT STOCKCHARTS TV StockCharts TV is devoted exclusively to financial charting and market analysis from the web's top technical experts. With a constant stream of technical charting-focused content, there's always something insightful, educational and entertaining to watch on the channel.
❗️DISCLAIMER Past performance is not indicative of future results. Neither the Show Participants nor StockCharts.com guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on the show. Strategies or investments discussed may fluctuate in price or value.
Investments or strategies mentioned in this show may not be suitable for you and you should make your own independent decision regarding them. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you.
You should strongly consider seeking advice from your own investment advisor
