SG10Y Govt Bond and SPY relationship Part IV
Time to review this weekly chart which appears to gain even more importance in giving the insights... Noted that the SG10Y Govt Bond Yields continued to drop, and broke down a support to close at a 9 month low.
Also note that since tracking and projecting (the previous dotted green arrow), the path of the SPY (blue line) was on point and closed higher to the point of the green arrow, now made solid (instead of dotted). A new projection for a smaller uptick is projected, in line with the SG10Y Govt Bond Yields dropping to a lower low, as you can expect a little more downside on that. Conversely, the SPY should be pushing forward and upward a bit more, as projected by the green dotted arrow.
Now, UNTIL the time where the SG10Y Govt Yield breaks over the yellow trendline, and changes trend, the SPY should not yet turn bearish. It will happen, just not now so wait for it...
Again, this is in line with the USD decline, and the Combined US Indexes climbing a bit more. Another angle that aligns. Interesting.
Also note that since tracking and projecting (the previous dotted green arrow), the path of the SPY (blue line) was on point and closed higher to the point of the green arrow, now made solid (instead of dotted). A new projection for a smaller uptick is projected, in line with the SG10Y Govt Bond Yields dropping to a lower low, as you can expect a little more downside on that. Conversely, the SPY should be pushing forward and upward a bit more, as projected by the green dotted arrow.
Now, UNTIL the time where the SG10Y Govt Yield breaks over the yellow trendline, and changes trend, the SPY should not yet turn bearish. It will happen, just not now so wait for it...
Again, this is in line with the USD decline, and the Combined US Indexes climbing a bit more. Another angle that aligns. Interesting.
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