nothing to say, this push up is strong so should be 2 legged at least.
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Rosenberg on BONDS
“…based on the average duration and move severity, the 10 Year [bond] sell off may not only continue for twice as long
(on average it has been 49 days, and we are only 19 days in in the current sell off episode) but………”
“…So can this last another month? Recent history says yes…”
Long.
Some hedges I have had on core longs have been stopped out.
This aligns me with trend and implications of failed ARMs Sell Warning (which is more up ahead).
This is uncomfortable and without confidence as gut says a top is close (timewise).
I'll have a stop to put the hedges back on if things turn.
The bear chatter in the blogosphere seems to be getting increasingly shrill to me.
There is a cognitive dissonance between what price is doing and what various top signs imply.
Even if a top is close, it is not uncommon for the last elements of a move to be sharp.
So, bears could be right and yet a bullish surge that doesn't make sense is still a possible outcome.
I am not predicting that will happen, but it's a possibilty.
Is something very bad going to happen at some random moment? Otherwise the market is on viagra.
Fed minutes are tomorrow, that's the only thing I can imagine the market doesn't take very well. It's not like they are going to sound hellbent on easing.
Other than that, we're expecting news that EU gives Greece a bit of a break, and maybe specifics on some ECB plan. If we hear noises that those aren't going so well, that's the only other thing.
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My chart had positive energy into the 22-23th...two possible turns this week, Thursday and Friday....there is potential for a small pullback tomorrow, then up on Thurs, then down Friday...??? We'll see....
TZA bounced off support, but then broke down today....but seeing some pos d....
bulls haven't even touched the top of the bollinger band. Would be very rare in my experience to see this not touch at least a couple of times before reversing. Also, go back and look at sustained up moves 13 days like we have seen here and there just normally isn't a snap reversal. The gains are often wiped out, but it will take a considerable amount of back and forth before that happens.