Form 8.3 - Equals Group PLC
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*Downing LLP*
*LEI: 213800G3X76VBG9SB504*
*8** May **202**4*
2021-10-19
Energy Pops, Long Bonds Drop
Volume is light on the XLE rally today and it hasn't broken yesterday's high. I view this as a shakeout of weak bears. If not and I'm wrong, well TLT is at a low for the day. A clean bullish breakout in energy would push bonds back down and here's a chart showing QQQ and TLT have moved in near lockstep since April. The days of everything going up together are coming to an end.
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