16 of the first 18 days of this year, SPY moved in the direction opposite of what US10Y did the previous trading day.
I have been using 1/US10Y to get a rough idea of where the market is heading in the next day. The correlation to SPY is immediately obvious upon just visually comparing the 1D candles.
If this paradigm holds up, next week will be......
Monthly candles show just how much meat is on the bone for bears. RSI is just now exiting overbought territory, IV rank/percentile is making a move upward, MACD is quickly losing momentum, and US10Y yield is going to go skyward next year which is unquestionably going to shake out some big players. Based on support dating back to the 2008 CDO bubble and ensuing...
The Fed is standing firm on monetary policy for the foreseeable future. This so far has already clearly contributed to the recent rise in BTC as a USD hedge, and should lead to significant gains in blockchain companies across the board. How high is the question... wouldn't be surprised to see it at $20 by EOY. Let me know your thoughts!
