Tuesday, 12 October 2010

The long end has had enough? Part II

Bond markets had a day off yesterday and sold off upon return to normal business. Yields are on the rise, the long end was up by 1.28%. 

Technically important and throughout positive for the case made by TMN a few days ago are the following factors:

- RSI rose through the 50 level
- daily close @ 37.94 above the mid BB (37.61) and above the 50 dma (37.81)
- daily close above  the 50% fib lvl ( 37.92) between the 2008 bottom and the 2009 top
- MACD is heading up
- momentum went through the zero line

             click on the chart to enlarge