November 8, 2019
In the face of weak economic sensitive charts like housing, 10% Repos, Trump/Xian news, US treasury rates spike, gold hits the skidder and commodities break the long-term downtrend. Given all the inter-market confliction the dollar uptrend persists
US Homebuilder stocks tumbled
It was a bloodbath in bonds today as Treasury yields exploded higher… with
Yields broke mid-September highs, breaking back to their highest since Aug 1st…
Source of the above charts Bloomberg.
Background – TEM- continues to have a background that suggests a move away from the low volatility trend to a more forceful one. A move above par suggests a rally to 103.00 based on ratio projections. 100 is the dollars long term resistance and new higher targets are expected come January 1, 2020.
Contrary Thinker’s featured chart of the dollar shows its sure and steady advance all week, taking out S-T and Day Trader resistance levels.
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Jack F. Cahn, CMT
A Thinking Man’s Trader Since 1989,
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