REM: Partial Rise within an Ascending Broadening Wedge
As the Fed Funds Rate rises and the rise in Consumer Credit Balances come to a halt, I think it will lead to Deflationary Pressure. This pressure would likely send Short Term Bond Yields lower starting with the ultra short ones like the 1 year and below, when this happens I think we could then see this be reflected within the Mortgage Back Securities (MBS) and if that's the case, this ETF will likely fall because it mostly holds a lot of very Short Term MBSs with maturities ranging between 0 and 5 Years, and as the rate of the MBSs fall so will the Demand for them which would likely lead to lower prices.
Due to what I explained above I think that this Harmonic ABCD BAMM break down will likely happen and send REM down to the 1.13 Fibonacci Extension.
Due to what I explained above I think that this Harmonic ABCD BAMM break down will likely happen and send REM down to the 1.13 Fibonacci Extension.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.