Weekend Nov 12 2023
Keep in mind the bear market got underway by January 2022. Wave One bottomed Oct 2022, Wave Two topped July 27, one of three bottomed late October, Wave 2 of 3 should be topping,ending now.That means the strongest of the waves will begin shortly.
Team Biden will be pressed to explain the upcoming damage.
Bonds Interest Rate
TLT 20 yr bond ETF
This is a fourth wave rally in bond prices. It is ending now or it already has like stocks. Note PMO is extended and RSI is bending over.A recetn front page article in the WSJ reorted on the extreme volume and bets that TLT had bottomed, ie rates have topped for now.. Even Jerome thinks that way as well. If this analysis is correct higher rates lie immediately ahead.
Look at the not so amazing resemblence of CFR to the TLT chart above.
MACD is bending and RSI has rolled over. CFR has lost half its value at the late Oct low. Lower prices lie ahead.
Social Mood
Strikes are just getting underway with the bear market. UAW, Hollywood writers, Health care, and now Las Vegas. Below Canadian renters protest higher rents.
Politicians are trying appease both sides of the GAZA conflict form Biden to Macron to one of our House of Rep members here in SA. All are getting the same result, they just anger both sides that much more. Every Preident since Ike has tried to quell the Mid East, all have failled to this point.
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