The NYSE Index is facing a very important price level as Momentum and the MACD are at the highest levels in a year!
The 9-week rally from the late December lows has the NYSE index facing the October, November, December highs and its 78% retracement this past week.
Joe Friday Just The Facts Ma’am- Momentum, MACD, and the NYSE index look to be rolling over from levels that could send a big-time caution message to the bullish case!
Below looks at the yield on the 10-year note (TNX) over the past 25-years
Joe Friday Just The Facts Ma’am- The bullish case for stocks hopes another rollover isn’t taking place here! If support breaks at (1), look for stocks to decline in price along with yields.