Weekly chart. Seems to be nearing a key level above which might set off further weakness in tech and other sectors. The bounce in energy and financials has been significant but will it last?
To be honest I didn't expect it to get this far, but here we are. The USDJPY keeps running higher. Will we break through the 114 level and keep going? Time will tell. If so, this would generally bode well for stocks and negative for metals. With rising rates (for now?) this only seems like it will continue. Lots of factors swirling around from the BOJ,...
It sure looked like the uptrend in tech was over back on 2/12. The "Guppy method" uses 2 bands of moving averages. The shorter term is supposed to represent traders and the longer term, the investors. The idea is when the traders penetrate the investor group, the trend is over.
10Y yields seem to be getting ready to take a breather? This should be USD positive. However, the next few months could get very interesting and I expect to see rate continue to rise as well as USD remain under pressure. Rising rates seem to now indicate an increase in solvency concerns as the combined effects of budget issues, debt and historically low rates...
Bond market seems to have been key last few weeks to action in equities. The thought being that money leaving the bond market causes higher yields and when rates go up, this puts pressure on stocks.
