Higher Bond Yields and an Expensive Stock Market is a Bearish Combination...Period.
Table of Contents:
1) Interest rates are seeing a change in trend to the upside. That’s never good for stocks.
2) When inverted yield curves turn…& then steepen significantly & steadily…risk assets get clobbered.
3) The high yield market is starting to show some cracks.
4) Economic data is still beating expectations, that’s bullish……Can the truckers breakout to the upside?
5) Updating the charts on the S&P 500, the NDX Nasdaq 100 and the Russell 2000.
6) Believe it or not, the chip stock’s are testing a key support level. (Yes, support, not resistance!)
7) The STOXX Europe 600 index is also testing a very important support level.
8) If “Dr. Copper” weakness much further, it not be a good sign for China…nor for global growth.
9) The next two weeks should be very important for the banks tocks on a technical basis.
10) Summary of our current stance.