While many will be focusing on the stock market today, the 30 year yields
may be the battle to look at.
The Fed wants to keep rates low so that mortgage rates don't kill the housing
market. At the same time, the yield Bulls want to be compensated with higher
yields for higher risk levels, so we will likely see an unusual hi/lo range
on today 30 year bond yield tick (Symbol: $TYX).
Note the triple top resistance on the 30 year yield chart below. The odds
are that the TYX will rise above the 39.30 resistance today, and that will
become a trigger for the Fed to jump in and try to drive the yield back down
again.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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