11/3/226
I suggested keeping the powder dry until election results are in, looks like the street agreed with me , not much to report.
TLT fell a half point and TBF came back to my entry point at 25.55.
A while back I drew this blue trend line and suggested yields would fall to the tendline and then bounce. Here I extend the line an whadday know, it did just that.
Ten Year Treasury Yield
TBF Bear Bond Fund
Bottoming action is apparent with RSI and PMO at an extreme.
While this may seem a boring trade, over the next year things will be more exciting.
After this coming correction, TBF up, TLT down, I expect to see a lengthy up move in TLT.
Meanwhile the tech stocks are all over the charts. The drop in oil was unexpected but yet another random Donald quote is not. Now news has it that the US will broker Russia Ukraine talks next week. I doubt Zelensky and Putin have much common ground.
Much more tomorrow.
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