It might be time to warm up TBT very soon. TLT looks like it is poised to breakdown under $100. Is this a reduction in fear and the flow of risk free capital into riskier assets like stocks (bullish)? Or is this a response to the oversupply of treasuries weighing on the price (bearish)? Or is there some other explanation?
I am not going to repost charts of SPY, QQQQ and DIA. Same old story and nothing to update from the charts on last night’s post. All are at resistance.
Cypress Semiconductor has been marching higher all year. If this stock can take out $9 per share, it will be an all time high and I will get very interested in it. For now, it is just something to keep on the radar over the new few months.
