Actionable Trade-Alert
from Rick in the Trading Room
(Please check all related discussion in the room before you do any trades.)
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10:09 |
Rates on the 30-year have topped this morning precisely at the 4.81% target that was the subject of this week’s commentary. Together with the dollar’s very precise turn yesterday from an equally important target, we could be seeing a major turn here. If so, we should expect downtrending abcd patterns in both to reach or exceed their ‘d’ targets. However, if these small, corrective patterns reverse from their respective ‘p’ midpoints on charts of varying degree, then the dominant respective trends are likely to reassert themselves. I would then use a 4.98% target for the 30-year that comes from the weekly chart. I seriously doubt that the long-bond rate will go higher than that, since the pattern on the weekly chart is so clear and compelling. |
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