TNX (ten year yield) did a perfect bounce off 200 dma, thereby mitigating any bullishness the drop in oil could have accelerated in equitites. This is primarily why the rally in stocks was limited, although energy components in SPX took a hit. Look for the selling in equities to resume should the ten year keep climbing.
click on chart for full size
click on chart for full size
This entry was posted
on Wednesday, August 17, 2005 at 3:44 PM.
