Powell Curses The Equity Markets!
Probably unconnected rant from the F-Man vs. equity dump late yesterday.
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Rolling Over
The S&P500, Nasdaq-100 and Dow Jones rolled over late in New York trading hours yesterday, just as Chairman Powell was reading the Riot Act to a protestor.
In staff personal accounts and in our Inner Circle service we reacted and alerted real time to this.
The Russell? Well, it continues to dance to the tune in its own head, rather than the music that everyone else is listening to; it commenced its retracement of the November up-move already.
Let's turn to our usual charts. But before that, a message from our sponsor.
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Anyhoo. Back to the business at hand here at Cestrian Market Insight.
Paying members, scroll right down for our latest take on markets. As always we look at the 10-year yield, the S&P500, Nasdaq-100, Dow Jones and the Russell 2000; we add Bitcoin and Ether futures pricing for good measure.
Note - to open full-page versions of these charts, just click on the chart headings, which are hyperlinks.
US 10-Year Yield
We may see the 10-yr move up to 4.8% or so, the top of that blue channel we show at the hard right edge of the chart below.