Sooooooooo……….I guess the Nobel Prize is going to wait, eh?
Anyway, it’s nice to wake up to a morning with so much red on the screen. The one huge exception is bonds, which are up over half a percent. I’m not worried, though. It’s all following a pattern. You can see the “big tops” (with little exploration zones, in grey) followed by a “V” shaped drop and retest. That’s all we are doing right now. We are in retest mode. I’m going to increase my January 2019 TLT puts this morning.
As for equities, that is a happier situation. The huge bounce we got on Sunday due to the “China and the U.S. are totally buddies” announcement (see green tint) has been proved – – what word shall we use? – – irrelevant? Meaningless? A flash in the pan? I’ll leave it to your poetic license.
