Real Yields Hit Their Highest Level Since 2008, And Long-End Rates Are Testing Major Resistance
For informational and educational purposes only. Not investment advice. Not a recommendation.
By Michael Kramer, Mott Capital Management
The Nasdaq is showing more weakness today, pushing toward the lower bound of the uptrend in the diamond pattern we identified. The Nasdaq futures also look like they may be forming a descending triangle, while the S&P 500 futures carry more of an ascending triangle. Rotation can drive the Nasdaq lower and the S&P 500 higher; you can’t rule that out. That dispersion was visible again today, with Apple moving up while the semis continue to trade poorly, Oracle and GE sprinkled in. For the most part, this is the market we’ve been in for some time.
