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U.S. Bonds Overbought & Losing Momentum
By J Clinton Hill on December 28, 2008 | More Posts By J Clinton Hill | Author's Website
U.S. Bonds are enjoying a spectacular bull run as the flight to safety trade dominates investor sentiment. However, technical analysis of the recent weekly chart below indicates that bonds are severely overbought and momentum is waning. This, of course, sets up the potential for a retracement correction.
When markets become irrational, they are either ruled by greed or fear. The current market environment is clearly and rightly dominated by the latter and the overbought condition can prevail even longer.
However, what goes up must come down eventually. Whether a retracement correction is developing is unknown yet, but stay Hillbent for The Market Direction and we will keep you posted on the latest technical analysis alerts for equity and other major asset class indices.
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I hope you are right. I’ve been losing money in TBT.