For whatever reason, it is unusual for the Libor to exhibit a triangular pattern, but that is what it has been showing since April 26th.
When looking at the chart, note the pattern and the arrows we posted. There seems to be some degree of correlation with the NYSE Composite index. Normally, this is not the case. Also, while the Libor is exhibiting a triangular pattern, the NYSE is showing a bit of a descending wedge pattern.
What is technically interesting about the Libor pattern, is that a triangular breakout is not too far away. This begs the question as to whether there is an important event around the corner?
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