We noted back on July 9 [see: Moment of Truth] that GC had reached our long-held 1823.60 target well ahead of schedule. From a charting standpoint, it should reverse here at its .886 Fib retracement. From a fundamental standpoint, of course, the fiscal picture suggests plenty of additional upside. Remember, it broke out of two … continue reading →
Tag Archives: ZN
In our Aug 28, 2019 Update on Gold I noted that although GC had just reached our 1560 target, ZN had also reached our 132’100 target. The picture was further muddled by the fact that DXY and GC had been moving in unison – an unusual occurrence, to say the least. ZN’s resistance could put … continue reading →
If rates really are heading back up in the near future, we’d expect to see bonds take a hit (and stocks, too, but that’s a different post.) Back on Jan 21, we focused on the 10-year treasury (ZN.) We observed that ZN had just completed a large Crab Pattern and broken down from a rising … continue reading →
First, an important caveat: I’m not a bond guy. Never have been, never will be — at least with long bonds under 8%. I find the idea of sinking even one dollar into a security (on credit watch, mind you) that guarantees less than 2% for 10 years ridiculous. But, different strokes and all that. … continue reading →