Thu, Jun 01, 2023 @ 01:19 GMT
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Russia-US Tensions Plus Tehchnicals Can Cause Lower Stocks

10 year US note bounced from the lows in the last two weeks while stocks accelerated to the downside, ideally within wave C which may not be over yet based on recent developments which suggests that ounce from start of April is corrective. In fact, here is also a slow price structure at the moment on 10 year, above 120’10 that looks like a wave (B) of an ongoing 3-leg recovery up to 122’00. If that is correct then stocks may see more downside, into 2500 area on S&P500 where wave C would be equal to wave A in distance. Also tensions between US and Russia are definitely not supportive for stocks either.

10 Year US Notes vs S&P500, 2h

Elliott Wave Financial Service
Elliott Wave Financial Service
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