Let's start off the business week with a technical look at bonds from master technician Chris Kimble. I received the four-pack below from Chris after just reading a Zero Hedge report that PIMCO now has a short position on Treasuries.
Chris comments:
The 17-year channel in the 30-year bond remains in place in that yields remain above support in this inverted chart. At the same time multiple types of bond ETF's are on key support!
Support is support until broken. Yet this four-pack does reflect how vulnerable all types of bonds are to a support break.
If yield support at (1) in the four-pack is broken, a key long-term rate change will be at hand!
No comments:
Post a Comment