The next report will be on Thursday, January 30th.
After rising sharply from mid December to mid January, Treasury yields fell sharply on benign CPI numbers. The 10-yr Treasury Yield remains in a long-term uptrend with a breakout, but short-term yields are still trending lower and more reflective of Fed policy. The decline in yields sparked a buying binge on Wall Street with leadership coming from the middle of the market (mid-caps). Broad strength in mid-caps triggered a breadth thrust for this group. We are also seeing leadership in ETFs related to finance, industrials and utilities. Seven feature in today’s report. The Gold SPDR and DB Base Metals ETF are also going for breakouts, as is IBIT.
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Video Headlines
- SPY Bounces off Wedge Breakout Zone
- QQQ Tests Wedge Breakout Zone
- RSP Breaks Out of Wedge and Firms
- Small-caps Break Out, but Lag
- XLK Maintains Choppy Uptrend
- XLF Extends on Wedge Breakout and Leads
- XLC Extends on Wedge Breakouts and Leads
- XLU Turns Volatile after Wedge Breakout
- ARTY Tests Support as Price Action Turns Volatile
- BOTZ and AIQ Tests Breakout Zones
- CLOU and SKYY Extend on Breakouts and Show Relative Strength
- CIBR Extends Pennant Breakout and Shows Relative Strength
- IGV Holds Breakout and Extends Higher
- IFRA and PAVE Tests Breakout Zone with Throwback
- IBB Breaks Wedge Resistance as XBI Nears Resistance
- GLD Extends on Triangle Breakout and Near New High
- IBIT Holds Pennant Breakout