The 30-05 YC is Giving Everyone a Heads UP..
Late comment @ 1:45 PM CDT
I obviously am optimistic about the direction out of this stage of the bottom formation that started last May 11 and with the average trade price on the S&P since that date of 3941 as of today and the current price at 3927. The Big players have been playing the short side of this equation during this whole period and are dead set to push a blow-out of the lows of the last ten days. They have been able to do it with the Russell 2000 due to finance companies being around 15 % of that index. We will just have to see if the durable goods and GDPNow numbers help the bull case tomorrow.
I don’t know about all of you, but I feel good when the 30 Yr rate is rising against the 5 yr rate. It was good enough for Greenspan and he knew a lot more than the Bernanke/Yellen/Powell crowd that followed him.
And, all the PHD economists screaming recession this morning tells you something. They probably need to get the big money players that they work for to get out of their short positions that they have been building since last June.