SG10Y Govt Bond and SPY relationship Part III
Time for yet another update in this uncanny inverse relationship between the SG10Y Government Bonds and the S&P500 Index ETF, SPY...
Recall that the SG10Y GBond yields are in apparent inverse correlation to the SPY. When there is a trendline breakdown on the yields, the SPY is bullish; and when there is a trendline breakout, the SPY is bearish.
So far, it can be observed that this relationship is intact and predictable, with the SPY forging bullishly when the SG10Y GBond yields are falling...
Note that a support is approaching and this can mean either or both of two things:
1. There should be a brief stall in momentum incoming soon; and
2. The primary trend for the SG10Y GB Yields is bearish, expected to break the support and head further down until the end of April 2023. This also suggests that April should see a surge in the SPY (and S&P500), denoted by the larger green arrow.
So far, now change in the yield downtrend, at least for the next week, until it reaches the expected downside target (red circle).
Recall that the SG10Y GBond yields are in apparent inverse correlation to the SPY. When there is a trendline breakdown on the yields, the SPY is bullish; and when there is a trendline breakout, the SPY is bearish.
So far, it can be observed that this relationship is intact and predictable, with the SPY forging bullishly when the SG10Y GBond yields are falling...
Note that a support is approaching and this can mean either or both of two things:
1. There should be a brief stall in momentum incoming soon; and
2. The primary trend for the SG10Y GB Yields is bearish, expected to break the support and head further down until the end of April 2023. This also suggests that April should see a surge in the SPY (and S&P500), denoted by the larger green arrow.
So far, now change in the yield downtrend, at least for the next week, until it reaches the expected downside target (red circle).
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