Tuesday, December 3rd. - Stock Trends, Charts, and Commentary (*** If you see last week's Tuesday Update: Click Here)
Remember two weeks ago when we posted a 3 year chart showing that long term bond yields had an upside bias and that could mean higher interest rates ... especially on mortgages?
Well, today's we will show you an update of what has been happening. As you know, we did have an upside breakout on its apex formation, but it was not impressive due to intervention coming from the Fed.
This is not going to turn out to be the easily won battle that the Fed originally thought. "Last week we commented that the medium term bias was to the upside so we could see a short term pull back and an upside retest soon."
This chart is as of the close yesterday, so in spite of Fed intervention, the Bond Market Bulls still want to see higher yields because the 30 year yields were above the fan line's resistance level.
*** Click on the link below if you would like to send a page link of today's update to a friend or colleague.
You can become a Free StockTiming Member in less than 10 seconds ...
and receive important, free Stock Market email updates every Morning ...
To become a Free Member, simply enter your information and click on the "Free" button. You willreceive Daily Updates and Alert Notices every morning before the market opens. On other occasions, you will also be sent special links to important stock market information and/or studies.
Quick and Easy StockTiming.com Free Member Sign Up