When T2108 falls below 10% the market tends to bounce. Look at low level in June and this week.
Dr. Wish
Blog Post: $T2108 hits 7.97 intraday; p/c ratio=1.04; 23 new US highs and 945 new lows; 20 year treasuries, $TLT, continue their stage 4 down-trend, see weekly chart
Note how TLT rides the 4 wk acerage down (red dotted line).
Blog Post: 1,106 new yearly US lows and 12 new highs; put/call ratio EXTREME at 1.26, $GNRC showing strength in stormy seas, see daily chart
With a p/c ratio of 1.26 the market will likely bounce.
I am watching GNRC for a short term rally. GNRC, the generator maker, usually rises when the US is hit with a hurricane and has shown good relative strength the past 2 days. Look at the volume on Friday and Monday as it rose in a declining market.
