Surely you recall the hype, set on full blast Bond Armageddon mode to blow every last risk ‘off’ player out and into the various inflated asset trades. Well, the 30yr yield is still dropping. Daily chart… And after a couple months of wiggling, is back below the Continuum’s limiter. Monthly chart… And unsurprisingly inflation expectations have been neatly packed away as the herd rushes into… … Continue reading About That Bond Bear Market…
I think that I think the stock market can continue to bounce here, but 2 (among several others) internals indicators remain bearish. The Transports are negative today, in an intermediate downtrend (despite crude oil’s tank job) and are diverging the Dow, which is trying to bounce. Junk bonds, which flew every step of the way with the risk ‘on’ trades not only no longer offer … Continue reading 2 Bearish Indicators
Astro is still frisky. Yesterday morning we took a look at RUT, which has broken below support (now resistance) and noted that SPX and Dow were making a move that way as well as they tested support, while NDX was still above its key level. Well who in this whipsaw market is surprised that these supports held and the whipsaw (i.e. lack of resolution) continues? … Continue reading Rut… No, Not Yet
