Weekend April 23 2023
Big Picture Weekly
BOnd yields bottomed in early 2020. Four waves are complete with rates soaring from one to 4.5 and orreccting to 3.5%.
the correction is five months long and the MAs on the daily chart are converging.
TBF advances as bond prices fall and it looks like both the price and yield bond charts.
we should probably enter orders under the current market price to begin accumulating for the next fifth wave up in yields.
I still like Nustar NS and its 10% dividend. The Saudis and Russians are taking advantage of Biden's war on energy and have cut production to raise oil prices over $80.
PMO is bottoming and price is above all the weekly MAs. Again a buy with price under the existing market would be a good idea. I do think the overall stock market is on borrowed time with seven or eight stocks comprising half the S & P value. But the energy sector looks good here.
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