Monday, February 27, 2017

While equities are adding to records, the US Dollar and 10 year Treasuries are still seeking direction. However, 10 year Treasury yields as shown by the daily CBOE 10 year Treasury Index (TNX) has shown a crack. The daily TNX closed under the 23.27 TDST Support last Friday, which provides a glimmer of things to come this week. There a few variations after a TDST breach, but if the TNX is to project lower, another close below the 23.27 TDST Support will help validate that projection. Keeping an eye on the bigger picture, the monthly TNX is still in play for higher rates.tnx-dailytnx-monthly

Still awaiting a bearish price flip on the S&P 500 (SPX) index. It has not happened, but it is closer now than last week for the daily SPX. 


S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: NEUTRAL

Bearish if daily SPX closes below 2365.38 on Monday, February 27, 2017 

spx-daily


S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: NEUTRAL

Bearish if weekly SPX closes below 2297.42 on Friday, March 3, 2017

spx-weekly


S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH

Neutral if monthly SPX closes below 2126.15 on Tuesday, February 28, 2017


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