LG,
>>>> Well, the TYX.X has been rising steadily as expected filling the gap down and closing above Tuesday's high. However, the Market seems to be ignoring that rise, so far. I suspect the Market will acknowledge that rise before the close. If the TYX.X continues its climb tomorrow, this retrace may well be turned back. <<<<<
My short-term technicals are smack in the middle, so it is a flip of a coin, but right now the futures are down 5.5, so you could be right and your assessment in light of the INTEREST RATEs is logical.
As silly as it sounds, I previously mentioned the ABBEY COHEN indicator, which states that 3 days after she pushes the bullish position the market sells off. It has been noticed by some that when important/closely followed individuals(Greenspan,Rubin,Cohen,etc) make comments, a opposite reaction in the market could occur in approximately 3 days. Of course, this is subjective, based on the intensity of the comments made. In this case it could be Monday. I would not base a strategy around this, but its a bit interesting/cute.
As I am writing this post, the futures are deteriorating and now down 7. Your prediction of a reversal to the downside looks like it could occur today. Maybe the DOW will get back into the STAIRSTEP.
Seeya |
