Written by Rick Ackerman, Rick’s Picks
T-Bond Thrust Could Signal a Major Turn
March T-Bonds decisively exceeded a crucial threshold at 145^10 that I’d noted here earlier, generating a bullish impulse leg on the daily chart for the first time since November. Buyers exceeded an ‘internal’ and an ‘external’ peak, suggesting there’s some gumption behind this rally.
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What would it take to end the bear market? From a Hidden Pivot standpoint, the upthrust would need to get past the 147^23 peak in the chart (early February); moreover, it would need to do so without correcting significantly along the way. Rather than pretend we’ve got a crystal ball, let’s let the futures tell us whether the big picture has changed significantly.
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