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