US and Australian share markets are down for the year. Rising US 10-year treasury yields have spooked the market. An escalation in trade tensions has further weakened sentiment. The latest worry is now “yield inversion”. The consensus view is leaning towards tough times ahead, a US recession, etc. My view is that the consensus is probably wrong. And the risk is to the upside. Benign inflation, an easing of long-term yields, and GDP growth coming back to sustainable levels should leave equities in a “sweet spot”. This is where growth is not too low and not too high. This means higher stock prices. Do the charts for share markets reveal this to be the case? A few weeks ago I analysed the charts of the S&P 500 and the S&P/ASX 200. I could already see evidence that markets were not going much lower. Has my view changed, and what Australian stock looks like a screaming buy right now?