We said in an earlier post that the continuation upwards for the 10 yr yeild is a sign that there could be a stock market pullback, that is a pretty good theory but also at the current levels really not a possibility. We are not taking into account any market issues like oh for example 2T worth of dollars pumped into the market. Those mini-bonds are not doing much even given the M1 and M2 charts this month.
What we will look at is technicals and that starts with the 50 MA which we will not reach until 1.9x range and the 200MA which is at the 3 range.
If we continue upwards and cross the 50 and head to the 200 then the market is in shape for a real correction. So yes our earlier trading strategy hit target and is still on the upside we are simply waiting for a touch, cross and hold above of the 50MA to make any serious moves.
What we will look at is technicals and that starts with the 50 MA which we will not reach until 1.9x range and the 200MA which is at the 3 range.
If we continue upwards and cross the 50 and head to the 200 then the market is in shape for a real correction. So yes our earlier trading strategy hit target and is still on the upside we are simply waiting for a touch, cross and hold above of the 50MA to make any serious moves.