Lions. Have A Look At This MMRI Technical Analysis.
From Greg M
Lions.
I would like to thank Jabari Cox for performing this current analysis on the MMRI. With that, I would also like to hear from my technical Lions and get some more input. (If you click on the chart below, it will enlarge).
WE ARE ALWAYS STRONGER TOGETHER.
If the FED doesn't step in this week, the trend Iine break will be confirmed to the upside.
To me I see a 5 wave rise in the 10yr rates followed by an A-B-C 3 wave correction, It looks like the 10 yr bond is breaking out now of the downtrend correction in rates. It is not hard for me to understand as looking out 8 years one can see $40 plus trillion of new debt supply. This takes into account Trump's planned tax cuts plus the budget deficit of currently of $2 plus trillion a year and the need to refi maturing bonds. Forty $ trillion might be base numbers if big holders of US debt like China and Japan unload, remember American sentiment is NOT what it has been!
Can anybody imagine what this country looks like fiscally with $50 plus trillion in debt and 10% or higher rates?