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Strategies & Market Trends : John Pitera's Market Laboratory

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paul ta

roguedolphin

From: ajtj99	8/21/2013 3:37:40 PM
	2 Recommendations Read Replies (2) of 33421

The IYR weekly has a massive H&S top that targets about 48.5, or down about 20% from here. The reason this is important is because the IYR tends to move inversely to the TNX. stockcharts.com If this formation breaks in an orthodox manner, the TNX (and interest rates) are set to soar. The price of the TNX is at a level that is rare as far as bond routs go. If rates go to 4%, it will be an historic bloodbath of epic proportions. With all the leverage being used in the system, a bond smash down like this will send shockwaves throughout the financial system. It's still early, and I need to check the high yield products more thoroughly, as they are decent early warning beacons. However, this is something we should be keeping a very close eye on.

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