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    Fourth Quarter Chart Gallery Primary Markets

    October 19, 2020

October 19, 2020

Fourth Quarter Chart Gallery Primary Markets

October 19, 2020 Recap

The bull markets are done, dusted, and bronzed.

Bonds: As I go to press, the bonds are testing the 174 12/ to 171 28/ I-T support zone, sitting at 174 1/.  The context, the tension in the background from an I-T point of view supports that if a break occurs here of support, the next target is L-T 144-152.  The tidal cycles and trends following the system are short and continue to support the downturn, as seen on the next chart in the gallery.  The cycle is down, the MA crossover is down, the smooth CMB index is down, and the smoothed RSI is down.

From an Elliott Wave point of view, the secondary peak in August was the end of the I-T counter trend wave (2), which leaves the long government bonds on the brink of the best part of a trend, wave three.

Euro Dollar outlook, from a secular point of view, the very long term bull market that ensued after its creations are in a long term correction of the mistakes it was founded upon. From the Brexit to Greece and others, the theme during debt contractions is “separations,” and that does not bode well for a union of states that does not have a common language.

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