Treasuries Trampled as Triple Threat Takes Control

Last week I noted the Triple Threat to Treasuries here. Maybe it was a predictive allusion using LeBron James as an illustration of the Triple Threat. LeBron and his teammates went on to lose 3 games on their roadtrip. it made a great point but I will have to be careful going forward.

Coincidentally the Triple Threat to Treasuries is also playing out to the downside. The momentum indicators are looking toppy. The RSI is pulling back from a touch at 60. It did not move into the bullish zone. The MACD at the bottom of the chart moved positive, but has now leveled, losing its strength just above the zero line. The price also continued over the 50 day SMA, but then pulled back to it Wednesday. It is looking like a possible short term top.

Friday price activity is more important any other day, just like the closing price is more important than intraday activity. Today will be a big day for Treasuries toward that deadline. The tide has changed in the short term. A confirmation of this with a close below the 50 day SMA today and especially Friday will solidify the reversal.

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