MBS Day Ahead: Mostly a Chart Showing The Worst is Over

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Posted To: MBS Commentary

If you weren't already noticing that the worst of this week's selling spree was over with yesterday's ground-holding, today's early trading essentially confirms it. I put a couple technical indicators in the chart below that we don't revisit too frequently, but that do a good job of showing what's been happening in the past few weeks. NOTE: this is an hour-to-hour chart as opposed to day-to-day. I'll break down my observations in bullet points because it's the day before x-mas weekend and who needs overly-wordy commentary? Big, successive breaks beyond an outer bollinger band signal an 'intact' sell-off. When yesterday's trading failed to break the upper bollinger band, that was a good sign Declining peaks in RSI is a good sign in general, but breaking…(read more)

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