The 30 year bonds are still holding up and in wave v of C up. The bonds might make one more push higher at least and get closer to the upper end of the channel before we get a meaningful trend reversal from the rising trend in bonds.

As the index continues to strive higher in wave 5 of its move the BSE Midcap index hourly chart is still struggling at the 78.6% retracement mark amid weak breadth. So it will not be surprising that this index declines against the large cap indices as more stocks decline here on. It will need to breakout of this tight range for a positive trend to emerge in the broad market.

US Bonds continue to rise in wave C of 2. The ideal level is near the upper end of the channel. Wave wise a 5 wave rise is to complete. The fifth wave is now extending into i-ii-iii-iv-v, and we are in iii, so a few more up down moves before it completes. Rising bonds keep the pressure on US equities for now.

The BSE 500 has risen to a new high in 3 waves so is it wave b of an expanded flat. A meaningful RSI divergence also may develop here if prices drop.

The hourly chart shows a triangle like formation in wave c above so the triangle maybe complete today and prices have still not broke out of the range. A bullish breakout would mean that the triangle is wave iv of an advance. Otherwise the triangle should mark a distributive top.

For a while many Asin markets are testing multi year trendlines so here is a quick look

Thailand 2013-2015 trendline resistance

Taiwan is close to the 2010-2015 trendline

Jakarta 2013-2015 trendline of the highs

Philippines is close to the 2015-2016 trendline

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Amazon sold off from the 5th wave position discussed last week. So how did Google do? I have covered this chart twice before, once in 2015 projecting 5=1 to 1100. Then I considered the 2014 period as a triangle. It still is. But one change. In 2016 I marked the rise as an ending pattern. After that prices formed a running triangle. So this running triangle is also a 4th wave. Running triangles happen in the final stages of a move so the 5th wave forming now is the final advance for Google long term. I cannot say that it is over but the next trend reversal would be important long term. The trendline of all the highs is at 1060. Once the 5th wave completes we will dip back below the 800 mark.