Global markets are simply unstoppable at the moment. According to Zero Hedge, the MSCI World index just saw it's longest winning streak in 17 years, having risen for the past 12 days in a row. Jerry must be dancing naked in front of the mirror every morning without fail. What a clown.
The US majors were up around half a percent on Tuesday morning, with the scent of optimism in the air, and with the hint of more free money on the horizon, retail investors are straight up sativa high.
The 10Y yield continues to march higher, and the FED now has a serious problem on it's hands. Will we see YCC as soon as this month? We kissed a 1.26% handle earlier in the session, and the long end of the curve is now clearly on the run. The 30Y yield hit a new 12 month high of 2.078%, and has broken through the 100MA (w) at 1.94%. If the 30 runs to the 200MA (w), we'll be looking at a yield of just under 2.5%. That's a game changer imo.
The US dollar (DXY) is seeing some notable action, we're up from 90.13 and now sitting around 90.55. The neckline is sitting just above us around 90.75. The Vix is catching some much needed support around the post March crash low's. We're poised to open around 21.50, after hitting a low of 20 on Friday. When this beast really wakes up, we'll be looking at a 40 handle before we can blink. I'm definitely sticking around for the show. On another note, in crypto, Bitcoin hit a new ATH above 50k. Wowzers. Crypto anyone?
On SPY, we're set to open around 394, with the upper band of the channel acting as resistance (even though we may gap above on the open). We have the 21EMA (h) just below the channel band at 390.50, then the 21EMA (d) at 383.67. We're looking at a daily RSI of 66, and an hourly RSI of 67. There's definitely room to run if the bulls so choose, but the reality is we're in the stratosphere, where next to no one is participating. The oxygen levels are low, and the bulls are high as a kite. The name of the game right now is patience.
Thanks for your time today guys, and I hope you enjoyed the analysis. Stick around for our live analysis to begin shortly. Cheers! Michael.
*The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research. I am/ we are currently holding positions in UVXY, HUV, HQD, QID.
The US majors were up around half a percent on Tuesday morning, with the scent of optimism in the air, and with the hint of more free money on the horizon, retail investors are straight up sativa high.
The 10Y yield continues to march higher, and the FED now has a serious problem on it's hands. Will we see YCC as soon as this month? We kissed a 1.26% handle earlier in the session, and the long end of the curve is now clearly on the run. The 30Y yield hit a new 12 month high of 2.078%, and has broken through the 100MA (w) at 1.94%. If the 30 runs to the 200MA (w), we'll be looking at a yield of just under 2.5%. That's a game changer imo.
The US dollar (DXY) is seeing some notable action, we're up from 90.13 and now sitting around 90.55. The neckline is sitting just above us around 90.75. The Vix is catching some much needed support around the post March crash low's. We're poised to open around 21.50, after hitting a low of 20 on Friday. When this beast really wakes up, we'll be looking at a 40 handle before we can blink. I'm definitely sticking around for the show. On another note, in crypto, Bitcoin hit a new ATH above 50k. Wowzers. Crypto anyone?
On SPY, we're set to open around 394, with the upper band of the channel acting as resistance (even though we may gap above on the open). We have the 21EMA (h) just below the channel band at 390.50, then the 21EMA (d) at 383.67. We're looking at a daily RSI of 66, and an hourly RSI of 67. There's definitely room to run if the bulls so choose, but the reality is we're in the stratosphere, where next to no one is participating. The oxygen levels are low, and the bulls are high as a kite. The name of the game right now is patience.
Thanks for your time today guys, and I hope you enjoyed the analysis. Stick around for our live analysis to begin shortly. Cheers! Michael.
*The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research. I am/ we are currently holding positions in UVXY, HUV, HQD, QID.
