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.

 

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