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Written by Marc Eckelberry
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Thursday, 04 April 2013 09:45 |
 TNX (ten year yield) has erased the entire gains for 2013 and tested the 2012 close this morning (1.756%, chart). This obviously brought out some profit taking in ZN (ten year note futures, inverse of yields) and should top treasuries for today . But the writing is on the wall and equities should have finally entered the cyclical bear within the longer secular bear. This will not be an easy bear to trade, but traders with longer term horizons should be able to ride this out to some pretty interesting lows within the next 12 months, namely single digit p/e on SPX as we have seen for every single secular bear the past 200 years. |
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Written by Marc Eckelberry
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Tuesday, 05 March 2013 14:03 |
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 AAPL back above the 422 level, 2011 weekly resistance and now support after a scary under throw yesterday. This is bullish for the stock if it can hold at the close. Should retrace to the 470 area if closes or holds above 435, a key level.
This is helping NDX retest 50% of the secular bear market at 2805. Could pose some pretty hefty resistance. Tomorrow is the 4 year anniversary of the 2009 cyclical bull, which is getting a bit long in the tooth. |
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