U.S. futures are coming under pressure ahead of the open on Wednesday, following reports from a Chinese official that the country is considering cutting or halting its purchases of U.S. Treasuries.
I have been calling for a decline in bond prices recently, and I think the big moves are yet to happen. The U.S. 30-year Treasury bond futures are down slightly today at 151'22.
I told you Bitcoin was a bubble. The biggest beneficiary is the precious metals and I had a hunch when I saw the calculations for the turn in the metals the cryptos were hijacking some of the shine normally bestowed to the metals.
In the first part of the Preparing for THE Bottom series, we emphasized the need to be sure to stay alert and focused in the precious metals market, even though it may not appear all that interesting.
Looking at the 4-hour chart of the 10-Year U.S. Notes we see price ending a wedged pattern in wave (C). This pattern is known as an ending diagonal, that can after its completion push prices in the opposite direction.
The stock market seems to like the latest legal news on U.S. President Donald Trump saying that he is apparently NOT under investigation for obstruction of justice.
