The ratio of the DJIA and 30-year bond price. Falling ratio indicates stock nonperformance, rising ratio indicates stock outperformance.
The horizontal is a smidge over the 130 level. The 126 level is the most conservative line in the sand, below that I think we have a clear breakdown underway.
A decline of less than 4 percent in the Dow or a less than 4 percent rise in the 30-year bond price, or some combination, would take this chart below 126.
S&P 500 & Nasdaq Composite Approach Critical Resistance; Watch for These
Important Levels!
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A tug-of-war with no clear winner—that's what the stock market seemed to be
playing this week. With a Fed meeting, key economic data, and more earnings
on ...
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