A Market Timing Report based on the 12-13-2013 Close published Sunday December 15th, 2013
The 10 Year Treasury yield is still up this past week. There is a lot of nervousness about what the Fed may do in December (their meeting is this Tues and Weds. with a press conference Weds.). Pulling the plug on the markets in December would seem to be counterproductive, because significant losses in the stock market will not support buying before Christmas, which is the economy’s most important period to book revenues and profits.
So many are betting against a move prior to next year, perhaps in March. Producer prices were quite low on last report, so that may keep the U.S. dollar helicopters flying through New Years Eve at least.
Rising rates hurt the recovery that had started in GLD this past week as you can see at the link to the right.
Here is the interest rate chart for the 10 Year Treasury Note showing an intact upward channel on a collision course with 2.984% (about 3%):
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