NASDAQ (^IXIC): NASDAQ Could Pull Back to Retest JAN 26 Breakout if the 10-Year Treasury Yield Continues Rising

 


NASDAQ has pulled back sharply since Feb 3, after both Amazon and Alphabet posted disappointing fourth quarter earnings. That is not the whole story though, considering the 10-year U.S. Treasury yield has been on the rise since early Feb from its support level at 3.4%. It traded at 3.74% on Fri.

Be aware that the NASDAQ could pull back further to retest the JAN 26 breakout at around 11.5k if the 10-year U.S. Treasury yield continues to rise.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!



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