Saturday, February 8, 2014
MTU Weekend Ed. - Short Term Update (2/7/14 close)
As discussed in It’s TIME (1/24/14) and Monthly Outlook Update (1/31/14), we continue to track a January market top or a top in the March/April time frame. See Chart 2.
Odds continue to favor a top in the March/April time frame. Wave structures of the 10Y Treasury yield appear to offer support. Note that the initial rally has been moderate amid stock market weakness. Now, yields are poised to move higher for the near term (Chart 3).