1. Volume and volatility indicate bears are still in control, divergence on OBV & volume interest on down days greater then up days.
2. Volatility confirms volume with little interest on the upside, volatility picking up on down days. 3. RSI unable to hold above the 50 line, indicating downward momentum is prevailing.
4. PSAR & 100D MA confluence, both tested.
5. Close below cloud, likely to retest bottom before further move down
6. Fundamentally I do not see an environment in which bond yields can remain low with widening trade and fiscal spending deficits, markets will demand more yield for more risk. FED tightening contributes, but I expect more QE if this down move down gets momentum.
2. Volatility confirms volume with little interest on the upside, volatility picking up on down days. 3. RSI unable to hold above the 50 line, indicating downward momentum is prevailing.
4. PSAR & 100D MA confluence, both tested.
5. Close below cloud, likely to retest bottom before further move down
6. Fundamentally I do not see an environment in which bond yields can remain low with widening trade and fiscal spending deficits, markets will demand more yield for more risk. FED tightening contributes, but I expect more QE if this down move down gets momentum.