Markets rebounded fairly strongly after “Fed day”.
That’s a good sign.
But – here are two key levels I’m watching that will tell us much more about where the market is heading.
Chart of the Day
The first level is the US 10-year Treasury yield, which spiked in April and has been trading sideways in a consolidation range (white rectangular box) for the past two-and-a-half weeks.
We’re seeing the same pattern with DXY – the US Dollar Index.
Both the 10-year Treasury yield and the DXY are generally inversely correlated with the stock market.
And that means how these consolidation ranges resolve will tell us a lot about how the market will move going forward.
What we want to see is them resolving downward – i.e. failing to break out…
Because that’s what could trigger the end of the pullback – and the next big move upward.
Insight of the Day
If you can see the end of the pullback coming before it actually does, you have a powerful advantage over the rest.
Look closely at the above charts, and you will see that both consolidation ranges for the 10-year Treasury yield and the DXY appear to be on the verge of resolving downwards.
That’s an even better sign…
Making the current environment an ideal one to implement my FIRE Trader strategy – which is specifically designed to target stocks that have pulled back…
But have a strong likelihood of launching themselves much much higher.
That’s why I went LIVE earlier this morning for a masterclass that showed you exactly how to implement this strategy for yourself.
If you attended the masterclass, then you already have a powerful advantage over the rest.
If you didn’t, it’s still not too late.
Just make sure you click here to watch the limited-time replay now…
Or click here to book a call with one of our Education Specialists to find out how to start doing this for yourself.
But do it before the weekend hits – or you might miss your chance.
Have a good weekend.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
