DAN RUSSO, CMT
THE TIME BETWEEN HIGH TIDES
The NASDAQ is a bright spot with reflation assets under pressure. Is the pressure likely to persist, or is this a pause?
While Treasury yields have moved lower over the past few weeks, the credit market is not sending a warning signal just yet.
Despite the S&P 500 trading near record levels, there are signs that breadth is weakening under the surface.
Later today, we will hear from the Fed Chairman, Jerome Powell, after the FOMC wraps up their policy meeting. All eyes will be on treasuries.
Materials, Financials, and Industrials are all testing their 50-day moving averages from above. Relative trends are under near-term pressure.
Equity markets in the U.S. and globally are trading at/near record levels, while yields break down at the long end of the curve.
Dan Russo spends much of his time using technical analysis, navigating the market’s tides to determine which assets are likely to continue to ride a rising tide while constantly on watch for turbulent waters.
Markets have a rhythm like the waves and the tides, ebbing and flowing.
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