This Week at Investing Angles – Part II

Part I already gave us volatility, the Dollar, energy, financials, Nasdaq, NIKKEI, and a semiconductor sector that seems determined to turn October into performance art.

Now comes Part II — another eight analyses, and this batch arguably carries even more long-term weight. Bonds are flashing something we have never seen before, precious metals remain deeply divided, Russell and the S&P are testing important roadmaps, and two members of the Magnificent 7 seem increasingly interested in exploring the less magnificent side of technical analysis.

If Part I turned up the volume, Part II brings in the bass.

Indices

Russell — Weekly Analysis

Russell continues to occupy one of the more fragile corners of the equity market. The weekly structure is now doing less hinting and more explaining.

Small caps occasionally lead the party. They can also be the first ones quietly checking whether the emergency exit is unlocked.

Shanghai Composite: A New Audience, A New Warning

Our growing readership in Asia gave us another excuse to revisit Shanghai — and unfortunately the chart did not arrive bearing gifts.

The longer-term structure remains uncomfortable, with several technical methods continuing to point toward a potentially much larger correction. Sometimes welcoming a new audience with a bearish roadmap feels impolite. The chart, however, has never shown much interest in etiquette.

S&P 500 — Weekly Analysis

SPX remains at the center of the broader equity story, and the developing Elliott Wave structure continues to deserve very close attention.

The short-term impulse lower has become increasingly organized, while the larger mid-term roadmap remains unchanged. The bears have read the assignment. Now we find out how much of it they intend to complete.

Strategy & Macro

TLT: The Annual Bear Cross Nobody Has Seen Before

TLT just produced something rather special: an 8/20 EMA bearish crossover on the annual frame — the first one visible on the chart.

That is not exactly the sort of historical milestone bond bulls frame and hang over the fireplace. New all-time lows remain on the radar, while the 10Y2Y spread contributes its own cheerful little recession soundtrack.

Apparently, the bond market has decided subtlety is overrated.

Commodities

Gold: Bulls Are Trying. The Chart Is Not Convinced

Gold bulls are trying. Credit where credit is due.

The short-term structure has improved, several bullish candles have appeared, and Elliott Wave still leaves room for something larger. But the next tests are considerably harder, and the chart has not yet issued the certificate of reversal.

The bulls have submitted the homework. Grading is still in progress.

Silver — Weekly Analysis

Silver continues to provide the usual combination of opportunity, drama, and occasionally unnecessary emotional turbulence.

The weekly frame remains the best place to separate the larger technical roadmap from the daily noise. With silver, that separation is less of a luxury and more of a survival skill.

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Magnificent 7

Tesla — Weekly Analysis

Tesla has been busy constructing a technical picture that is becoming increasingly difficult to describe as cheerful.

The candles are bearish, the flag remains active, a potential Triple Top has developed, and the longer-term Elliott Wave roadmap still leaves some remarkably deep destinations on the board.

Tesla can still surprise us. It usually does. Unfortunately, surprise works in both directions.

NVDA: And the Bears Felt Good

NVIDIA remains one of the most important charts in the entire market, and the latest structure has finally given the bears something they have not enjoyed very often lately: reasons to feel good.

The larger roadmap still has multiple paths, but the balance is shifting enough that the next technical developments could matter well beyond NVDA itself. When one of the market’s biggest engines starts coughing, everybody hears it.

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And that completes Part II.

Between both parts, we covered 16 analyses across equities, bonds, currencies, volatility, commodities, global indices, and several individual names. More importantly, a growing number of those charts are no longer sending isolated signals.

Bonds are deteriorating. Semiconductors have cracked. Small caps remain vulnerable. Several major indices are developing bearish structures. Precious metals are fighting over whether a bottom is actually in. And the Magnificent 7 suddenly look a little less invincible.

No single chart decides the market.

But when enough independent charts begin leaning the same way, the bigger picture usually deserves a second look.

This week, it may deserve a third.

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