One Last Check of The Charts Before NFP Tomorrow

There’s little left to say that hasn’t already been said by
way of preparing for tomorrow’s jobs report.  While it’s possible that
tomorrow’s NFP surprises to the upside and the ongoing trends in MBS and Treasuries
are broken, the effects of such an occurrence on rate sheets would only prove
to be temporary unless they were supported by similarly surprising events in
Europe.  Although that’s possible, I’m
not sure you could convince me it’s likely. 
Take a look at this longer term chart of NFP and see what you
think.  I’d be curious to see your
comments on it.

For the record, MBS and Treasuries both sit almost exactly on the weak end of their trend channels the night before this NFP report:

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/231808.aspx

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