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After 7 years, two long-term support/resistance lines look to be forming a multi-year pennant pattern that is “About To End.”

the same pattern as in the past, the same breakdown from the pattern and same reversal off the underside of that pattern...all while the dollar is breaking out.

The S&P has spent the majority of the past 80-years inside a rising channel in the top left chart below

This pattern in the charts below will likely determine whether or not investors “Sell in May”.

Doc Copper and Yields both remain inside of long-term falling channels with momentum lofty. Both are testing breakouts at top of these falling channels at the same time.

As the month is nearing an end, SMH has been soft in April and is testing steep 2-year rising support in the chart below at (4).

Numerous potential support lines came in to play at (1), at the same time a bullish falling wedge looks to be coming to an end.

Interest rates have been falling for nearly three decades. Could the trend of lower rates be over?  The chart below shows a big test to this trend is in play right now.

Silver in the past three weeks has rallied off support, where it is now touching the underside of falling resistance in the chart below at (1).

The stars appear to be aligning for market bears once again. But it’s still early on.  Will they take the control?  Or let this opportunity pass them by?

One thing that has been missing is Silver strength… but yesterday’s big move by Silver may be the lift that precious metals need.

XOP looks to be creating another pennant pattern. The top of the pattern comes into play as resistance just above current prices.

What this important commodity index does with the jam the tight jam, should send a very important long-term message for this sector (Crude Oil, Metals and Grains). 

The S&P over the past couple of months could be creating another descending triangle pattern at the top of its rising channel.

The chart below highlights the Gold/U.S. Dollar ratio. Metals bulls want/need to see this ratio heading higher to send a bullish message to the broader metals sector.