Pretty tough week to be a bear. However, the S&P 500 still has not touched the 1130 / 1131 area on this wave up. This week, the bullish action occurred all on Monday, with the rest of the week simply focused on holding Monday price gains. What we have seen are:
S&P 500 … 3% break of trend line:
big cap’s … showing strength:
small cap’s … showing weakness:
NASDAQ:
10 year yield … bearish new lows:
cyclicals, the rally leader, are still holding in their prior channel:
TLT … weekly pattern still intact:
US Dollar still being pummeled ... crossing a critical retracement this week:
Other than the major support break and new multi-month low by the 10 Year Note Yield, there is not much help for bears yet. However, it is worth noting that in deflationary settings the bond yields lead the equities, so the 10 Year Note Yield may be technically signaling something more bearish for the market’s longer term future. Bonds themselves could also be supporting this signal as the mildly bullish TLT breakout pattern remains intact. However, a bounce by the US Dollar may be needed before that signal can become more meaningful to market participants.
狗仔卡
发表于 2010-8-7 09:07 PM
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喧嚣卡
变色卡
发表于 2010-8-7 09:16 PM
