A Market Timing Report based on the 4-17-2014 Close published Sunday April 20, 2014
The gold/rate dance continues. Rates crept up, really due to a major jerk up at the end of last week, and gold fell back a bit toward the higher low. What we don’t know is whether the decline will take us all the way back to that higher low as shown on the chart. If it does, it had better bounce, or there will be another level of damage.
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GLD chart:
Gold falling back to prior higher low.
Ten Year Treasury Note Yield Chart (TNX, TLT, TBT):
Rates bounced near the bottom of the prior range.
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