After an eventful and volatile week the consequences are to be seen but are not obvious. An important long term trendline has been broken. And, with very minor number manipulation, (from high to low) the wave is 4%. Long time readers will remember (or not) that one system that professionals pay attention to and sometimes use is the 4% system. Where a 4% move in a week causes an entry or exit signal. This, combined with the trendline break flashes a large yellow caution light over the market. We will be watching closely for confirmation. With Trump running a kabuki trade war extreme volatility and false signals are to be expected.
Close up seen below.