This is an updated chart of TNX. Yields are at an important level. This 382 fib should be resistance and send yields back down and calm the market.
If the TNX pushes through this level yields could quickly end up at 2%. This would not be good news for high flying tech stocks.
If the TNX pushes through this level yields could quickly end up at 2%. This would not be good news for high flying tech stocks.
Comment:
Getting a slight pull back off the 382. Would really like to see it roll over from here. If it finds its legs and pushed through the red zone again expect weakness in the tech names to resume.
Comment:
This gap up what has the market in a tizzy. Things could get really ugly if this breaks above 1.61 signaling that the Fed has either lost control or unwilling to step in.
