Today's interesting charts
Comment of the Day

August 13 2013

Commentary by David Fuller

Today's interesting charts

Price charts show you when the consensus view is no longer sustained by market action

David Fuller's view US 10-Yr Bond Yields (weekly & daily) have shown higher reaction lows since the bear market rally commenced on May 3rd. Yesterday's upside key day reversal checked the small reaction and the range highs are being tested once again. A close beneath 2.55% is required to indicate more than temporary resistance near the highs of the current trading range. On a medium-term basis these yields are likely heading back to the 3% to 4% range.

UK 10-Yr Bond Yields (weekly & daily) briefly touched a new recovery high today, on the nudge above 2.6%. A close beneath 2.4% is required to indicate more than brief resistance near current levels. On a medium-term basis these yields are also likely heading back to the 3% to 4% range.

German Bund 10-Yr Yields (weekly & daily) are lagging but appear on the verge of completing their base formation. A close beneath 1.5% would be required to delay significantly this prospect.

Japanese 10-Yr Bond Yields (weekly & daily) show a very different picture, having hit a low that may never be seen again at 0.325% on April 5th. They became temporarily overextended in reaching 1% on May 24th and are now in an extensive right-hand extension following their Type 1 V-bottom (as taught at The Chart Seminar). Watch for an upward dynamic in coming weeks to check the current retreat.

Apple Inc (weekly & daily) appears to be completing its base formation, first mentioned by Eoin on 11th July 2013. A close beneath $450 would be required to indicate a pullback and extension phase for this pattern. Carl Icahn's recent buying, announced today, will have contributed to this rally.

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