Bonds continue to be exceptionally strong, and while I thought they’d stop at their price gap, they smashed through it like something which smashes through things. I’d suggest the next two tests for would be the descending trendline I’ve drawn and, next, the horizontal.The /ZB futures chart, naturally, looks quite similar, and here, too, the horizontal is the next truly meaningful level of resistance.Looking at the long-term interest rate charts, it seems within the realm of possibility that rates have topped out and are already forming a rounded top before they can make some meaningful headway lower. This, naturally, would keep goosing bonds higher. I’ve got to say, the raw quantity of moving parts and confusing plumbing that constitute our financial system are going to make for a bewildering 2024.I’m going to turn my attention to putting some finishing touches on Chart Lab. More By This Author:Precious Metals Miners ETFs Eyeing Strength From Recent WeaknessThe Surviving SevenMiners Keep Rocking
Bonds Continue To Be Exceptionally Strong
