My take? UST2Y has limited upside potential pending major resistance. Major breakout above 5% yield would be especially impressive given forthcoming seasonal tailwind, inverted yield curve, aging equity advance, and potential for election-year machinations. H/t @MacroCharts
My take? UST2Y has limited upside potential pending major resistance. Major breakout above 5% yield would be especially impressive given forthcoming seasonal tailwind, inverted yield curve, aging equity advance, and potential for election-year machinations. H/t @MacroCharts https://t.co/L0kDaJsrLl
@mark_ungewitter @MacroCharts Zooming in, potential breakout from cup and handle...
@HumbleStudent @MacroCharts Right, I believe that's what MC is suggesting. Just noting that multi-year resistance lies directly overhead.
@HumbleStudent @MacroCharts Yield-curve reaction to hypothetical C&H breakout may provide the next clue. Flattening would suggest that multi-year resistance near 5% is a formidable barrier. Steepening would weaken the case. My .02