The market has been range bound for a month at the 3575 – 3800 range. The head fake beneath the range formed Minor 1. A proposed head fake above the range should form Minor 2. At the moment the market is frustrating the maximum amount of people both bull and bear alike.
Bonds. Hammered. I keep placing a wave [1] but it keeps just going lower and yields higher. The Ponzi has popped, and no one realizes just yet.
3 and 6 months still shooting upwards. Solid 3/4-point raise is coming, but if these 2 rates rise another 1/5 point and hold above that, we are looking at a full 1-point rate raise by the Fed come the next meeting in early November.
