With all due notice that the market is in a long-term uptrend and remains bullish, the Nasdaq 100 (QQQ) continues to look vulnerable to short-term correction as we noted in NFTRH 455. Yesterday and today it has been bobbing up against the SMA 50 but thus far not breaking through. The bounce has come from a logical support area, but we have been noting that … Continue reading NFTRH+; QQQ Setup
The Biotech iShares IBB shot up on some beneficial talk out of the Trump administration and, in my opinion, on beneficial Treasury yield dynamics. So it is no coincidence that it is now consolidating as yields have spiked. With yields nearing resistance and momo hype wearing off, I wonder if the correction will make it all the way to well defined support around 300 or … Continue reading High, Tight Flag on the Biotech ETF
Two ongoing themes in NFTRH of late have been for a rise in interest rates and a significant bounce in USD (thus far). While I have had my challenges with this policy-stoked market just like anyone else, the Treasury bond market has been like child’s play for the last year. That is because bonds have reliably done what contrarian analysis said they should do. Herd … Continue reading Yield View on Track; Uncle Buck to Follow?
