Well, Karl Denninger is watching. Among other things, he sees the inverted H&S [like object] I noted yesterday and goes into some good detail on the implications:
TIC Data Confirms: Foreign Appetite Gone
I am not prepared to comment on what the outcome will be, other than to say that what we have here is our long watched line in the sand, the EMA 100 on the TYX under threat. This was discussed in #63 and will be watched constantly going forward. But I am going to keep the hysterics muted for now.
What the heck, I think I am going to publish a brief excerpt from #63 tomorrow (including the following) note:
But wait, the long bond yield is becoming frisky. The dupes who bought those bonds
during the crisis are beginning to feel as though they have been fooled. Those left in long
bonds are beginning to ask the question “who is the mark?” and unable to identify one,
are beginning to ponder the question “is it me?”
NFTRH continues to assert that there can be no new inflationary bailout, per the
president’s plans, without first tamping down inflation expectations. The problem is, in a
financial world that now tends to violently seek out extremes, any tamping is likely to
become another bi-polar event.
