Last stand of the stock desperados

Thursday 5 October 2023

The Market Ear is priming for a big reversal.

The 10 year – not what you see at lows

The surge in yields has been extreme, but note we are putting in a possible shooting star candle here. RSI is at extreme levels, and we are 32 bps above the 21 day moving average as of writing.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.