US 10 Year - IMPORTANT NOTE -
Added 2024-04-16 09:30:46 +0000 UTCI added a lesson yesterday talking about the relationship between the 10 Year and $TLT and I believe this helps shine some light on their correlation.
The US 10 Year moving this aggressively does not help the market, it stops the ability for money to flow easily throughout the economy.
Quite simply, people won't take out loans to buy goods and services while rates are high, they will simply delay this decision until rates are more favourable.
The US 10yr has moved very aggressively since CPI came in Hot and is now above the 0.618 Fib, this is another negative effect on the market and another indicator to help us see where the market is going next, the 50 Day MA also helps us too.
$PYPL, $SQ, $AFRM and $SOFI were relatively holding up well but the higher this pushes, the more pressure it puts on these companies.
$PYPL is what I am holding right now and may not have a choice but to reduce my position if this continues here.
