The basis for the entire rally has been the drop in interest rates. The ten year note chart is clear. Friday's candle is a warning to equity bulls. It blew past five down days in one single day. 4.8% is not far above and if that happens, stocks could find some real headwinds. Remember: it's all about rates. Watch 20 DMA support at 46.78.
This entry was posted
on Sunday, October 08, 2006 at 7:08 PM.
