S&P 500: The S&P 500 Could Pull Back to retest 4,000 if the 10-Year Treasury Yield Continues Rising

 


The S&P 500 dropped below its key support level at 4,115 on Thursday as the 10-year U.S. Treasury yield surged 4 basis points to 3.67%. 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, the highest level since Jan 5. Hawkish comments from Federal Reserve officials and disappointing outlooks from big tech companies fuel recession fears.

Be aware that the S&P 500 could pull back further to retest the 4,000 level if the 10-year U.S. Treasury yield continues to rise. The VIX index is already threatening to break above its 50-day MA.

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!

Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): A robotaxi war may be brewing in China

Image
Tesla cleared their first hurdles in China after the company received FSD approval from the Chinese government. Beware though, just days after Elon Musk confirmed Tesla's intent to unveil their robotaxi in August, one of China's largest ride-hailing companies, Didi Chuxing, announced a joint venture with Chinese EV maker GAC Aion to mass produce its own Level 4 robotaxi, per IOT World Today. Didi acquired Uber China in 2016 and has more than 80 million active users in China. The downtrend of Tesla stock remains intact. TSLA needs to break above the key resistance level at $182.33 soon, or else the stock could pull back to below its 50-day EMA. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more

BITCOIN (BTC/USD): Bitcoin stuck under trendline resistances at ~ 69k or the Nov'21 high

Image
Bitcoin is stuck under trendline resistances at ~ 69k, or the Nov'21 high. June's macro conditions could provide the next catalyst for bitcoin to make a breakout, per CoinDesk. Be aware, though, that a rejection from the trendline resistances could send bitcoin back down to retest the trendline support ~ 65k. 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!
Read more