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Even though yesterday was a rough day for equities, a key markets above DID NOT break support!
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I have been sharing that Sugar has been a decent indicator per the future directions of interest rates (see post here).
Anyone notice how Sugar is doing today? Despite stocks being soft this morning has the price action of bonds been of a surprise today?
Sugar declined almost 30% of late and the breakout should be respected!!!
Andrew…Per equities, was making the case that support was not broken! media acted liked the decline was terrible, yet support is still in place. If sugar is a decent yield indicator, it is suggesting higher yields could be around the corner. Does that mean stocks will remain above support? Time will tell. Sentiment is a ton less bullish right now than the levels back in Feb. and the put/call ratio is way up there as a ton of puts are being bought, planning on a large decline.
little confused as to what is suggested by this post…do you suggest higher yeilds and stronger sugar boads well for equities?