Unlike other headline news, long term interest rates breaking out to the upside is an immediate threat to equity prices especially if it's driven by bond vigilantes rather than strong economic news. This will immediately compress valuations and particularly hurt high growth and small caps the most. In addition, this is not a one-off headline where equities markets can easily shake it off and continue to rally. I think we're going to test the gap ~$567 on 
SPY after breaking down from a rising wedge and triggering the PSAR flip.
SPY after breaking down from a rising wedge and triggering the PSAR flip.
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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.