This was nothing more than us looking at something that has occured in the past (Double Tops) and finding a consistent pattern that it follows. In this case, the monthly trend in interest rates had been profoundly impated by the double top pattern and thus lead us to our forecast of much lower rates.
By the way, this forecast was made in the face of all the so called experts talking about sharply higher rates for the future, so once again by taking the low road with some technical confirmation of course, we were able to make a fairly good forecast.
So keep this pattern in mind for interest rates and don't be afraid of monthly charts either.
It is from the monthly charts that all other analysis follows so don't think they are far to long term.
With all of thaat being said, tell me where rates have the greatest odds of trending over the next 12-18 months based upon this monthly chart.
So, while the weekly chart shows the great week we had followed by this past week. It is most likely that this past week was the test of the lows that is not only very common after extensive declines, but also very healthy.
So while we continue to get bombarded with all the bear market camp analysts and more come out each day.