The 10-year bond has reversed. Rates are moving higher.
If the chart pattern (below) is in effect, if price action moves according to the breakout forecast, real estate … along with lumber prices, as well as the entire economy could experience a series of dramatic ‘air pockets’ all-the-way-down.
Of course, all of this is because of a little ‘speck’ floating around in the air.
Rates are at the wedge trend-line and instead of a breakout upward (as expected), could reverse back lower. Anything can happen. The next week is likely to be very interesting.
Charts by StockCharts