Long Bond

The 30 Yr has about as ugly a chart pattern as I've seen.
The Head and Shoulders set up is on a diagonal and reminds me of the historic bottom of '82, an inverse diagonal Head and Shoulders.
Note the Inverse Head and Shoulders formed by the '80 , '81, and '84 lows.
Active Month 


click to enlarge
Note the 100 day MA crossing under the 200 day.
click to enlarge
Just penetrated the support trend line of the 6 week long consolidation. While another retest of the top of the range is possible, failure to exceed a Fib retrace followed by new lows would be extremely negative. 
Using the neckline break measuring rule of a target equal to the distance from the head to the neckline, yields a catastrophic 85.


Popular posts from this blog

WTI Update- a 4 Handle Future?

Biden Climate Plan and Global GDP

Gasoline a By-product of Distillate