Treasury yields

The yield on 10-year treasury notes is testing support at 4.00%, revealing market expectations that the Fed will have to go easy on future rate hikes. 

The yield differential (10-year T-notes minus 13-week T-bills) eased to 2.5%. 
Low differentials (below 1.0%) are generally bear signals.






Gold

New York: Spot gold has rallied to $405.30. 
Price appears to be consolidating above support at $400, which would establish a base for further gains.




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ASX Australia

Thursday's reaction on the All Ordinaries was met with strong buying which quickly overcame selling pressure. The short reaction indicates trend strength in the short to medium term.
Twiggs Money Flow has recovered to complete a double bottom, signaling accumulation.




The point and figure chart below highlights major trend movements over the last 16 years (select a reversal amount of 5 to highlight long-term price movements).
In the longer term, expect a re-test of support at 3450.







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