Saturday, 16 October 2010

QE is not for free

As TMN has been highlighting throughout the week, a trend reversal in long end yields is under way. Ten year yields are embarking on a similar move. Weekly indicators are looking to work their way out of deeply oversold conditions and TMN will regard the move as confirmed upon TNX producing a weekly close above 28.27. This should at least lead to a follow through towards the 38% Fib. level at 32.90.

                  Please click on the chart to enlarge

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