A Glimmer of Hope

VIX broke out of its falling white channel from December and, so far at least, hasn’t fallen back in. It’s at least a glimmer of hope for the bears, as is the fact that a potential Inverted Head & Shoulders pattern hasn’t completed.

The other chart that should have bulls a little on edge is the 10Y. After bouncing nicely at our 200-day MA target, it’s on the brink of a breakout.

Has stocks’ bear market bounce finally played out?

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