The US5Y looks ready to break above the US10Y rate for bonds , signaling an inversion of the yield curve, the number one precursor to each recession in the US. The 10 year is sitting 3/1000 of a percent higher right now. When they cross I expect the market to turn red today.
The breakout of the US10Y from its cup and handle pattern dating back to June 2019 marked the top of the bull run, and when it backtested and bounced up the selling accelerated. You can learn a lot comparing the US10Y and the SPY or QQQ and how they relate.
Anyways, US10Y killed the bull, maybe now it causes a recession and brings back the bears. Happy trading!
The breakout of the US10Y from its cup and handle pattern dating back to June 2019 marked the top of the bull run, and when it backtested and bounced up the selling accelerated. You can learn a lot comparing the US10Y and the SPY or QQQ and how they relate.
Anyways, US10Y killed the bull, maybe now it causes a recession and brings back the bears. Happy trading!