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[Chris G]

09/06/2013
Bond Yield Very Overbought
by Carl Swenlin
We have been observing how, in spite of the Fed's efforts, bond yields have been persistently rising, but now they have become very overbought.

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(This is an excerpt from recent blogs for Decision Point subscribers.)

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On the weekly bar chart, we can see how a reverse head and shoulders pattern is in progress and yield is headed toward a minimum upside objective of about 42.5. However, we also notice that the PMO (Price Momentum Oscillator) has reached its highest level since 2009, and that it has begun to decelerate. If the weekly PMO tops, yield will probably top as well.




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