The home builders are flying skyward today and I wanted to point out that TOL (Toll Brothers) has completed the cup and handle formation with a powerful break out.
I would also point out that the Iowa futures market had an 89% chance of a December rate hike priced in this AM. I agree that the jobs number was good but I am just not sure it was that good. It is a bit convoluted here as the stock market seems to see the economy as strong enough to handle the higher rates. I had been viewing the end of the rate hike cycle as a bullish event and I need to do some thinking about what it would mean given current expectations.
Stocks are really the wildcard as all the options seem like they should move yields higher.
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