The Trend In The 10 Year Note Is Bearish

12 Dec in Bitcoin, Blog, Bonds, commodities, currencies, futures trading, Mike Seery

10 Year Notes---The 10 year note in the March contract finished lower by 4 ticks at 124/05 continuing its bearish momentum to the downside as I have written about this market for quite some time & if we close under the 124 level I will be initiating a short position while placing the stop loss above the 10 day high standing at 124/27 risking around $1,000 per contract plus slippage & commission.

The 10 year note is trading below its 20 and 100 day moving average as the trend is lower as we have held this level on a half-dozen times only to rally every single time, however the U.S dollar continues to move higher coupled with the fact that the stock market hits new highs almost every single day as its very clear in my opinion that interest rates are on the rise as we await the FOMC meeting tomorrow which is expected to raise the rate by a 1/4 of a percent.

It has also been suggested that in 2018 the Federal Reserve will raise interest rates 3 or 4 times as the rates are way too low for this type of growth in the United States so continue to look at this to the downside as volatility certainly will increase in 2018.

The 10 year note is averaging around 2.35% as our GDP continues to climb over 3% on a quarterly basis as I think we can get 4%/5% next year as an extremely bullish stock market could mean an extremely bearish bond market.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY---LOW

 

 

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