Several Small Data Points

Just a few observations I would like to pass along.

Check the dates, maybe it’s that easy, something to do with institutional buy and sell scheduling, unsure:

SPY

While $TLT has broken the channel discussed here, it’s a basket of treasuries, and perhaps the 10-yr itself is more important. And the $10YRYLD struck its similar channel on the nose today:

10YRYLD

Markets have been selling all year the whole time yields have been screeching. If yields reverse here, maybe that marks a big change of tone in the markets.

Other things, like $JNK, keep going green; doesn’t seem too risk off to me.

Bear in mind, I could be completely wrong, but I continue to look for a major low here.


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