DECEMBER 9, 2021
EUROPE OPEN BRIEF:
TRACKING A PULLBACK IN YIELD TO WRIGGLE OUT OF THE SHORT SCALPERS -- A YIELD PULLBACK SHOULD MAKE THAT HAPPEN; STILL WAITING FOR A FINAL UPTICK TO PUT THIS EQUITY RALLY TO A TIPPING POINT
Yield and indexes still trading positively. If the Yield comes down, equities/futures should fall too. We still expect that wave 4 (lower) to happen.
One possibility for RTY -- one brief uptick before a sharp drop lower, corresponding with 10Yr Yield expectations we posted yesterday. Might as well as make some money on a sudden uptick.
Might as well as make some money on a sudden uptick.
With the Yield falling out of bed, maybe we can still see RTY falling to where EWP schemata says support should be.
That should happen, if we finally get the 10Yr Yield to decline to the 1.435 - 1.425 support area.
There is a big fight between bulls and bears going on -- but we may still get that wave 4 later today. Then we see about that wave 5 higher and bring the current equity rally to a tipping point.
More updates as we go along.
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