TLT - Daily / 3 Drives @ 149 and Fails
Currently the 10 Year Note Yield @ 1.725 -0.008 -0.47%.
What seemingly took a long time to begin to complete finally did.
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There is a great deal in the Wind with respect to TLT presently.
LArger Daily Gaps well below with Price Objectives extending to the
134 to 139 Levels - attendant Gap FIlls included.
It will depend on ZN's breakdown and whether Yeidls simply Sky to our
overhead Price Objectives 1.82 / 1.91 / 2.02 / 2.12 / 2.28 to 3.50
The Inflation Recalc will provide cover for a Retracement next week.
Exceeding the 2021 Highs will be a stark warning for the Bond Holders
who have been smoked for 1000 Bips in several Months.
Chasing Highs while the Inflation persistence was building in all Core
Data... generally unwise.
We have maintained that Wave 4 would be an Everything Must Go Sale.
SO far, so good, it's a THesis that time and again has proven to be correct
and how long it extends will depend on a number of factors.
We don't see a larger Equity Sell as supportive in a rising rate environment.
The SHort end of the Curve appears to be supportive as well.
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McDonald's entered 2022 with 14.5% price increases across the Menu.
Big Mac's in Bonds give way to Filet o' Fish.