The key development for the markest this week is the move above 5.2% for the Ten year. The TNX chart looks headed for 53.90 eventually, helped by a very hawkish Fed intent on torpedoing the economy, not just slowing it down.
Keep an eye on NQ today and the 1560 level. Very critical, as we have quite a large gap below. If it holds, bulls win a major victory in the retracement wars. The ES equivalent is 1250.
This entry was posted
on Friday, June 23, 2006 at 7:13 AM.
