TLT getting squeezed here Last time here the majority opinion was that's the bottom, whence rates would start going down. Which it did, but now we're back. 10-year at 3.10% resistance.
If we break above of 3.10%, then it could be a headwind for the richly valued tech sector. Overall market could be facing some headwind too ex-financials
getting close to an ATL on job claims ... nearly printed the 1-handle this week the 4-week moving avg. is sitting close to a 50-year low. same with claims on a seasonally adjusted basis. the philly fed # this morning wasn't too shabby either...pretty much crushed estimates there as well.
i'm running a little late this morning but here's today's market movers & news thread- <-- click there to open! hope everyone has a great trading today.
Semiconductor ETF found support around 102 Got an eye on ICHR, it's dipping down this morning, was seeing 2x normal volume now down to 1.5x so selling is slowing down without really moving much more down in price. The hammer reversal from a month ago went down to 20.56.
ATH for the SPX as well Strong economic data like Cy said although housing data looked a little weak, also helpful that yields are pulling back a little bit and the dollar is weaker today. Emerging markets getting some relief as well from the weaker dollar
With yields close to multi year highs though, I guess it makes the FED decision next Wednesday a lot more interesting than the recent ones Rate hike next week is priced in but it will be interesting to see how hawkish/dovish the FED will be
