Treasury Yield 10 Years

  • TNX

  • $4.41

  • -0.54%

  • $4.39

  • $4.41

  • $4.38

Ticker Appearances

Tue, October 29, 2024 | 4:05PM ET

⚡ FlashInsights

Tue, October 29, 2024 | 4:05PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
From a price perspective of indices like ^SPX 0.43%  or NASDAQ, the US Stock market has rebounded impressively today and Technology has managed to gain further ground, but is doing so while many sectors aren't participating. There are eight sectors which finished negatively today, with Utilities and Energy are showing the worst underperformance. However, i expect that the 5 "Magnificent 7" stocks reporting earnings today will be able to successfully lift SPX back to new highs into early November ahead of a period of consolidation. The so-called "Trump Trade" assets which have been working well might all encounter a "Buy the rumor, sell the news" type reaction come Election day, with possible reversals in ^TNX -0.54% , DXY and eventually in IWM 1.98%  and ^SPX 0.43% . For now, i expect this Tech led rally to continue, and any move over 5863 should help SPX gain ~100 points into early November. See this consolidation pattern shown below.
Tickers

Daily Technical Strategy
Mon, October 7, 2024 | 7:22PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Crude, FXI, Utilities & Treasury yields all getting close to resistance

SHORT-TERM US EQUITY TRENDS LOOK TO HAVE TURNED BACK HIGHER LAST FRIDAY FOLLOWING A CHOPPY PERIOD OF CONSOLIDATION IN RECENT WEEKS.   DESPITE A PLETHORA OF...

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