Nor have the DJIA, NDX, COMPQ, RUT or OEX HA candles.
Nor have the FAANGs HA candles.
However, yesterday and today's HA candles on the 10 YR T-Notes have flipped from green to red (so far). Do we have a potential reverse Head & Shoulders formation in the making?
If we see a neckline breakout soon that holds (and thwarts that scenario), further equity weakness may continue (watch for the momentum indicator to remain above zero).
Otherwise, such a formation may develop over the next couple of weeks with equities gaining some strength, albeit on elevated volatile price swings. But, first, we'd need to see a green HA reversal candle form and hold on the SPX and the other major indices.
* UPDATE after the close...
Today's HA candle closed just slightly in the green on the SPX...we'll see if that holds and whether a meaningful and sustainable upside reversal comes into play.
