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What I’m referring to here are interest-sensitive instruments, three of which I’ve pasted below. If these topping patterns can complete, it means interest rates are an even stronger trajectory higher, and that’ll demolish equities.
Ever since the 30 year Treasury bond yield (one ‘top-down’ macro tool NFTRH uses to gauge the environment so that we may invest in, speculate upon or avoid certain situations, accordingly) broke its Continuum of pleasantly declining long-term Treasury bond yields, macro nerds have been called to task in order to correctly interpret the forward backdrop that this break implies. The note at the upper right of the chart asks the key question.
In spite of being backed by nothing more than the Full Faith & Credit of the United States Government (ahem………) the US Dollar is doing great compared to everything since, which is backed by the Full Faith & Credit of Everything Else.
As a follow-up to yesterday’s Not Again post, here is an update of Netflix (NFLX) which is down hard again today and, perhaps more importantly, is approaching what could be the completion of a massive topping pattern.
In other words, the hard fall it’s taken might just be the beginning of something even larger. Oh, wouldn’t THAT feel special for my abandoned puts, which are up over 40% since, umm, yesterday. I could just weep…………
