Below was a quiz posted on 2/3, which reflected that when a certain tool was at a low, it often suggested stocks would rally in the near future (See 2/3 post here)

 CLICK ON CHART TO ENLARGE

The tool was TNX, the yield on the 10-year note.  Below is an update to the above chart, reflecting a breakout in yields.

  

CLICK ON CHART ENLARGE

The above chart reflects that rates on the 10-year note were hitting lows last fall…so did the 500 index.  A positive situation for higher yields took place at (1), as higher lows took place. 

If history is a decent guide, the break above falling resistance line (2) should be a plus for stocks.

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past