And so am I. I’ll be back in a jifffy, but meanwhile, check out this chart. Speaks for itself.
Why Not Get Too Excited About Bearish Proclamations… Yet
They’re buying the 10 year this morning. Hard to believe, Harry? Not really, considering that in April the Treasury paid down $126 billion in T-bills and that next Monday, the Treasury will pay down $16 billion in coupons. It’s the April tax windfall at work. The Fed’s Circle Jerk… Is ‘Twerking?
Although, gotta wonder how the threat of a US government debt default is playing in those weekly investment strategy sessions at major institutions around the world.
The hourly chart of the 10 year yield should give us a tell over the next few days. It looks bullish for yield, which is of course, bearish for the bond market. But if it takes out 3.52, there’s gonna be a downdraft. Why anyone would buy this now is the question, but the answer may lie in the shorts that are out there. Too many shorts end up being their own worst enema.
If you don’t want to hold doolahs, the yeerow is the next least worst alternative. And the hourly chart of the yeerow agin the doolah reflects that. It’s bullish as hell.
Every time the yellow stuff sticks its head materially above 2k, it gets whacked. But buyers seem to be showing up and higher prices every few weeks. Is Gold Still Ticking After This Licking?
For moron the markets, see:
- Why Not Get Too Excited About Bearish Proclamations… Yet April 24, 2023
- Swing Trade Chart Picks – Four More Buys, Four More Buys April 20, 2023
- Is Gold Still Ticking After This Licking? April 19, 2023
- The Fed’s Circle Jerk, is ‘Twerking? April 18, 2023
- Here’s How We Know That Doom Has Already Arrived April 6, 2023
- Macro Liquidity Says No Way Jerray! April 4, 2023
- How to Play When Fed Changes the Game, Not Just the Rules March 19, 2023
- Systemic Meltdown Under Way As Dead Bodies Finally Start Surfacing March 12, 2023
- Here’s Why There Will Never Be Bull Markets Until This One Thing Happens February 26, 2023
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