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The 10 Year Note Looks Bearish


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10 Year Note Futures--- The 10 year note in the March contract is currently trading down 4 ticks at 124/04 right at major support which has been hit on a half-dozen times only to rally as I'm keeping a close eye on a possible short position if that level is breached on the closing basis.

The yield on the 10 year note is about 2.39% which historically speaking is extremely low especially compared to where the stock market is which is hitting another all-time high in today's trade and with the new tax cuts now implemented as you would have to think that interest rates are on the rise come 2018.

The 10 year note is still trading below its 20 and 100 day moving average as the trend is to the downside, however the chart structure is poor as we experienced high volatility in the last several days especially on Friday due to the false report from ABC report about Michael Flynn being told to talk to the Russians by President Trump before his election sending the 10 year note sharply higher, but once that report was retracted prices came right back down.

The United States has now experienced a 3.3% GDP growth rate which is excellent as we did not experience that for the last 8 years as I think that number can go as high as 4%/5% in 2018 as that means higher interest rates are on the horizon so look at a short position in the days ahead.

TREND: LOWER

CHART STRUCTURE: POOR

VOLATILITY---INCREASING

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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