TNX is attempting to breakout from the 618 resistance and above the Mar 29th high. This is what has the market worried. The targets above would be 2.21 and 2.67 so the market is pricing in growth at these higher rates. It is still possible for the TNX to reject here and fall back down. I will be watching for the rejection as it would likely give a boost to growth stocks and tech.
Note
Above 1.80 and looking strong. Really needs t pull back if we want to see a bounce in the indexesNote
TNX is gapping up above the Mar 29th high this morning. So price has made a higher high off the pivot confirming the uptrend and putting pressure on the markets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.