well, the bulls have us in their clutches for the time being, which is fine with me because the TNX broke its downtrend line and I love shorting them treasuries. in fact, the TLT weekly chart looks like one heck of a large head and shoulders, if it plays out. that points to a target of around 55, which ain't hay since we're still above 98 at the moment.
if...big if...that happens, it will be interesting to see if stocks decouple from the typical inverse relationship. and if so, when.
it's a wacky year and going to get wackier, methinks. thanks for the great charts, very illuminating, steve. you've presented a pretty convincing set of info that makes me want to step aside until my bearish demeanor has a more favorable environment in the stock market.
I am still keeping my eyes open, as I think they did "enough" damage to the bears and put holders to destroy this weeks success for the bears, Like last July, "they" blew up the head and shoulders, which was about concurrent with the death cross, and really high put call, especially on QQQQ. So the next few days might be about surprising the new bulls.
well, the bulls have us in their clutches for the time being, which is fine with me because the TNX broke its downtrend line and I love shorting them treasuries. in fact, the TLT weekly chart looks like one heck of a large head and shoulders, if it plays out. that points to a target of around 55, which ain't hay since we're still above 98 at the moment.
ReplyDeleteif...big if...that happens, it will be interesting to see if stocks decouple from the typical inverse relationship. and if so, when.
it's a wacky year and going to get wackier, methinks. thanks for the great charts, very illuminating, steve. you've presented a pretty convincing set of info that makes me want to step aside until my bearish demeanor has a more favorable environment in the stock market.
I am still keeping my eyes open, as I think they did "enough" damage to the bears and put holders to destroy this weeks success for the bears, Like last July, "they" blew up the head and shoulders, which was about concurrent with the death cross, and really high put call, especially on QQQQ. So the next few days might be about surprising the new bulls.
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