Chart of the Day - Tuesday, January 16, 2024

Patrick Dunuwila
January 16, 2024

  • 🏆 Today’s Chart of the Day was shared by David Rath (@DJwrath).
  • The US 10-Year Yield ($TNX) closed at a one-month high today, and it’s testing a potential inflection point around 4.00%.
  • Stocks and yields remain inversely correlated with one another.
  • A breakout would likely pressure stocks, while rejection would likely benefit stocks.

  • The takeaway: The 10-year yield ($TNX) is currently testing a potential inflection point, and the outcome will likely influence the next move for stocks, crypto, and other risk assets.

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