Steady Progress

Since early last week, it has been heartening to see bonds resume their downward trek. Not only has the progress lower been steady, but the “lower highs” are getting weaker each time, not even mustering a tag of their resistance trendline anymore. My TLT and XLU puts are counting on a long-term erosion. I also continue to hold the view that rising interest rates will sink real estate prices (Palo Alto notwithstanding).


As for equities, it’s still green everywhere. The ES had been trapped in a 2700-2740 range (green tint), but once it bolted out of there, it opens up the prospect for a push to 2780 (yellow tint). It would take a push beneath 2740 to yield a failed bullish breakout.


Disclaimer: This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.