Dear Slope readers: The below is more of a blurb that assumes you’re in tune with my ongoing themes, so please excuse the vagueness and take this as a short ‘perspective’ post. I am going to try to fill in more detail before week’s end.
If yesterday’s break above resistance is real you’ll need to have your thinking caps on in the coming weeks. It’s about to get really noisy out there. If the move is real, perceptions are going to firm and the 10yr and 30yr yields are going to go for their big picture limiters.
10yr daily… pattern target 2.8%.
10yr monthly… limitation at 2.9%.
30yr daily… pattern target 3.2%.
30yr monthly… limitation at 3.2% to 3.4%.
So is yesterday’s break above the daily pattern resistance real?
I am about as geeked up as I’ve ever been.
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