Stock rally enters the uncertainty zone

Tuesday 7 November 2023

The Market Ear leads us off with positioning.

Just a furious bounce?

The move in Treasury futures has been extreme, but note we are hitting the negative trend line around these levels. Also worth noting is the 50 day moving average. We closed above it on Friday, but we are very close to it again. The 100 day remains “way” higher.

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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.