10-yr Bond Yield (weekly & daily)
- Note the underlying base formation on the weekly chart. The short-term questions
are, when will we see more than a brief pause in this steep uptrend since May?
Will it occur near 3% or closer to 4%? Watch the daily chart which shows an
unbroken progression of higher reaction lows, which are the hallmark of a consistent
uptrend. A clear break in this sequence will indicate a longer reaction and
consolidation before the overall upward trend is resumed.
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crude oil (weekly & daily)
is moving back towards the upper side of its range since 2011, as long hedges
are established prior to a probable US strike against some of the Assad regime's
military equipment next week. These short-term positions are likely to be sold
shortly after the strike commences.
(weekly & daily)
and silver (weekly & daily)
are also subject to hedge buying but are likely to see a temporary corrective
phase following next week's probable cruise missile strikes.
Sensex Index (weekly & daily)
saw a downward dynamic today after it tested the now declining 200-day MA. This
has checked the latest rally attempt for at least the short term and an eventual
close above 19,000 will be required to confirm that demand has regained the