Coiln Twiggs view is that this is still a bear market. Retreat below 2600 would reinforce the signal.
S&P 500 volatility remains high. If the rally runs out of steam, a large Twiggs Volatility (21-day) trough above 1.0% would signal a bear market. Retreat below 2600 would reinforce the signal.Crude prices retreated below resistance at $54/$55 per barrel, on fears of falling global (mainly Chinese) demand. Another test of primary support at $42/barrel is likely.
10-Year Treasury yields retreated to 2.65%. A Trend Index peak below zero warns of buying pressure from investors (yields fall when prices rise) who are looking for safety.
My conclusion is the same as last week. This is a bear market. Recovery hinges on an unlikely resolution of the US-China 'trade dispute'.
