Courtesy of Chris Kimble
If stocks were up over 60% in the last 90 days, would you consider that they might be due a rest? Below is a 90-day comparision of the 500 index, gold and the yield on the 5-year note.
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See below for a multi-year chart on the yield of the 5-year note.
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The yield on the 5-year note, after hitting multi-year falling resistance, looks to be breaking support at (1) in the above chart. After a 60%+ rally in yields over the last 90 days, the patterns look to be suggesting that short-term rates should be heading lower for a while.
