Is Bernanke Losing Control?
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.