28.1 & 26.5K

17 Ağu 2023

Morning folks,

So, market once again tells that fundamentals - rules, confirming our mid term bearish view and slowly but stubbornly going to our 28.1K target.

Potential bullish scenario of rounding bottom (or cup), has failed, that we've mentioned last time. Now, we're watching for 28.10K downside AB-CD target, with potential continuation within few weeks to 26-26.5K area.

The major reasons - take a look at the US yields. We expect that it will be higher, with next 10-year yields target around 5% within few months:

https://www.tradingview.com/x/sGQZn7t5/

Inflation will turn up again in the US as soon as mid September starting new upside spiral. We expect to see 2-digit inflation in the US by the end of 2024 early 2025. (If everything will not break earlier).