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S&P, Bonds and Utilities each create reversal patterns!

By kimblechartingsolutions
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Courtesy of Chris Kimble.

spx bullish wicks tlt xlu bearish wicks mar 1

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Two times in the past 7-weeks the S&P 500, on  a weekly basis, has created bullish reversal patterns (bullish wicks) at 2-year horizontal support.

At nearly the same time, interest sensitive Government Bond ETF (TLT) and Utilities (XLU) have created bearish reversal patterns (bearish wicks) at resistance lines.

Potential message here, multi-month trend reversal could be in the making!

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