We all know the talk ... Bernanke has a mission to keep long term interest
and mortgage rates low. And, low mortgage rates will be good for housing and
the economy.
But ... is Bernanke getting into trouble relative to his ability to keep rates
low?
Take a look at today's chart which show's the 30 year yields (Symbol:TYX)
. The TYX bottomed in July of this year and it has actually been up trending
since then.
What was significant (this past Wednesday), was that the TYX not only moved
above the resistance of its triangular formation ... it gapped above it.
When a pattern exhibits a gap above its resistance, it usually means there
is a strong bias behind it. And that means, that Bernanke is in trouble now.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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