Wednesday, June 22, 2005

YIELD SIGNS

P and F 10 yr NO longer sporting 7% bullish yield objective as it was, NOW showing 3.1% Bearish (on yield) PO

MACD about to go below zero, but RSI nearing overbought.

MOST likely to see LOWER BB

Bigger picture is bleak HOW useful are P and F charts?, they're fine until trend is reversed, for MONTHS it proposed a 7% yield objective for 10 yrs, now it doesn't.

BOND action is anything but bullish IMHO all in backdrop to rising FED funds, yield curve is flat lining.

D

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