Thursday, April 28, 2011
Long Bond - weekly status
Here we have a 'W' bottom having held at a trend line, and above support. MACD trigger up (but below zero), CCI bullish above zero and RSI dealing with resistance.
No matter if this thing rallies, buyers of treasury debt for anything other than sport - and trading gains - are playing the fool in the bigger macro picture. As the mental masturbation in the ongoing inflation-deflation debate implies, buyers of long term debt of the great inflater stand to ultimately hold the bag.