Weekly Cycle revisited

February 22, 2016

Two weeks ago I posted a weekly chart of EWZ.  It showed a descending wedge forming on the charts.  This same cycle shows up in Crude, Copper and the Canadian Dollar. (AD as well)  When multiple markets show the same chart formation, it can serve as confirmation that a powerful cycle low has been made.    Usually, news will be most bearish at these cycle lows as well (think Crude and supply problem.)