ST: "the path of least resistance is anything but higher" .. except TESLA?
Posted 13 March 2021 - 07:17 AM
Based on a number of conversations I've had this week with industry peers, including guests on The Final Bar, I put together the chart below. Each of the five series on this chart are bullish, by any measure. As long as these five factors remain bullish, I find it challenging to assume that the path of least resistance is anything but higher."
Posted 13 March 2021 - 07:24 AM
THIS WEEK'S ARTICLES
JOHN MURPHY'S MARKET MESSAGE
10-YEAR YIELD IS SPIKING OVER 1.60% AND MAY BE HEADING TOWARD 2.00%
by John Murphy
10-YEAR YIELD EXCEEDS 1.60%...After a modest consolidation, bond yields are spiking again. The daily bars in Chart 1 show the 10-Year Treasury yield climbing 10 basis points to 1.63% which puts it at the highest level in more than a year...
Posted 13 March 2021 - 07:28 AM
"Rising Inflation: It's Coming, But What Impact Will It Have on US Equities?
Tom Bowley | March 12, 2021 at 09:56 PM
At the time of my last ChartWatchers article two weeks ago, the 10-year treasury yield ($TNX) had just closed at 1.46% after reaching an intra-week high at 1.61%. Well, we didn't stop there. The TNX had a big day on Friday, gaining nearly 11 basis points and closing at 1.64%, our highest since we closed at 1.65% on February 5, 2020, which was just a couple weeks before the pandemic-induced U.S. equity selloff began 13 months ago."
Posted 13 March 2021 - 07:32 AM
Recent internal selling pressure has pushed the McClellan Oscillator for high-yield bonds down to a very oversold level. When this reverses up from a low level, our Backtest Engine shows that HYG has typically rallied, with positive returns a month later 76% of the time."