12/1/2025
I have tentatively labled a top Nov 12, a wave one low, and and a wave two top last Friday. We need to see a lot more downside action, starting tomorrow, to confirm this. Notice the low level RSI top, lower tha at the Nov 12 high, and PMO bottom, way lower than Nov 12. Each of these suggests wave two up has ended.
Ten Year Yield
This is far more interesting than the stock charts. I extended the downtrend line to show that that yields have stayed above that line. Today yields jumped 1.97%, a big move. This would add credence to the idea that stocks have topped again. Trump can fire the head of BLS, choose his own toadies for the FED, and replace Jerome, but the markets trump, yes pun intended, all that. And yields are rising.
TBF the bear bond fund jumped 1%, time to start accumulating. Eventually yields will take out the 5$ yield recorded in October 2023. The correction from that high is FINALLY ending. Once yields take off this market has a habit of not looking back.
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