Title says it all, and I believe the technical chart speaks volumes about this rally's potential. It's very early to confirm a monthly uptrend but daily and weekly look great. My EW analysis of the move implies this is the start of a C or 3 wave, aiming for 148-151 at the very least. I came up with the chart after discussing this and other interesting topics at the Key Hidden Levels chatroom, definitely a great place to hang out and chat with insightful traders, with Tim West's invaluable remarks and charts as the center of attention. I'll add a daily view in the comments, market buying isn't the most efficient entry here. Cheers, Ivan.
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This isn't valid anymore. I changed my wave count.
I agree something about the drop in bonds was strange. It was occurring as the Shanghai mkt was dropping. Maybe this was a precursor of what we would see if China needed to sell bonds to raise cash to support their whole economy instead of just their stock market. Someone was dumping so you can see I suspect them. i believe rates can drop from here, we'll see.
CoolCreekCTA
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TBond up 100 bps since buy idea at 149.10; Jeff Gundlach's statement today that Fed will not raise rates has contributed to bounce. 15200 is target #1 with 153.15 target #2
CoolCreekCTA
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TBond up 100 bps since buy idea at 149.10; Jeff Gundlach's statement today that Fed will not raise rates has contributed to bounce. 15200 is target #1 with 153.15 target #2
IvanLabrie
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Excellent.
IvanLabrie
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Looks like TLT might rally WITH the S&P500 for 4-5 weeks based on the last time at mode signal on chart.
Target would be 126-128 before both are a short.
IvanLabrie
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If we cross the red line on chart I'd be tempted to think the move will continue a bit higher.
If long maybe book partial profits now, 50-75% and move stop to break even.
You could consider an aggressive short but it's dangerous (I think SPX has some room to the downside, at least during this week. Maybe bottoming around 2035)