Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Despite Fed Heads, TBT Continues to Climb


One of the more intriguing-market moves during the last 24 hours is in longer-term bond yield, which has climbed (basis 10-year Yield) from 2.66% to 2.74% since yesterday morning despite all the Fed jawboning about the need to continue asset purchases for the foreseeable future.

Why is the bond market under pressure (yield climbing)? We'll discuss that later in “What Am I Thinking?”

For now, it is what it is, and the ProShares UltraShort 20+ Year Treasury (TBT) is continuing yesterday’s strength off of Monday’s low at 75.41 towards a test of near-term resistance, now at 78.00.

Only a decline that breaks 75.41 will argue that the TBT has unfinished corrective business on the downside into the Nov 8 pivot low at 74.20.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!