The SG10Y Bond Yields spiked and got back into the range. Then it spiked further today attempting to breakout from the Gann Fan trendline. MACD somewhat supportive but not yet crossed over.
An early indication of an imminent retracement (indicated within the range).
Any further and stronger break would suggest a bigger correction incoming; IMHO, overdue.
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...
In a bearish (engulfing) week for the SPY, it appears that there is more downside to follow, which I would expect. Thing is, it appears that the SG 10Y G-Bonds broke down a supporting trendline, giving advance heads up that it would be a bullish rally in the weeks to come.
Previous dotted arrow line is now sold red as the SPY (blue line) moved up for a last...
A rather uncanny comparison, but some correlation observed... the SG Government Bonds are the next level "risk-free" instrument (perhaps not to all, but it is clearly one of the more robust).
Taking the SG10Y and overlay with SPY, some correlated trends are observed...
The yellow lines are the trend lines for the SG10Y, and break outs or break downs are...
