ZN update
Close:
Bonds getting a bid as they do every time TNX (ten year yield) gets above 3.8%. But the ZN (ten year note)chart looks bearish after losing the trendline on the 19th. The 200 ema is a must hold now.
Equities: buy support, sell resistance with a bearish bias as the debate goes on in Washington. SPX is now quietly trading under 1200.
SMH getting my attention as it bounced off 24 on 9/18 and holding so far. Risk below that is to 23.85. But we are entering the bargain zone.
This entry was posted
on Wednesday, September 24, 2008 at 9/24/2008 08:48:00 PM.
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