sp'60min
TLT, daily
Summary
*again, I want to highlight the bonds.. adjusting to a near certainty of higher int' rates.
TLT -3.1% in the $119s... first soft target is 110.. by mid/late spring.
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So much for the earlier spike floor hope of sp'2058.
The 2.30pm time offers next opportunity for a floor/turn.
Those currently short.... are getting a chance to tighten stops... ahead of OPEC and the monthly jobs data.
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re: Oil....
Oil is still battling to break AND hold above declining trend. Right now.. its marginal.. oil bulls should be seeking the $13s tomorrow. Cyclically.. the pressure is turning UP.
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Finally... for those who think I am crazy bullish... here is the most bearish chart out there...
Trans, daily
Not pretty... not least for what is often, a leading index.
2.42pm.. sp'2104 to 2044.... 60pts.. 3%.. in just 2 days...