In today’s briefing:
- S&P 500 and Nasdaq 100 Testing 20-Day MAs; 10-Yr Treasury Yield Testing Critical 4.35% Resistance
S&P 500 and Nasdaq 100 Testing 20-Day MAs; 10-Yr Treasury Yield Testing Critical 4.35% Resistance
- Large-Cap indexes (S&P 500, Nasdaq 100) remain bullish, finding support at their respective 20-day MAs since November 2023, and we remain bullish
- The question is whether that will continue to be the case. Concerns are rising Treasury yields and the U.S. dollar (DXY), which have broken above short-term resistance levels on Feb13
- Friday’s PPI report should provide more clarity as to how concerned we should be about rising inflation
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