9/28/2026
There is a small gap down at the start of trading today in teh SPX. We have a lower high than in August, RSI and PMO are trending down.
DJI
Lacking the tech heavy status of the NDX and SPX the INDU is leading the way down, more weakness should be ahead.
10 Yr Treasury Yield
It is amazing that the stock market is so calm in the face of rising rate, 5.24% on the ten year. TBF our bear bond fund is at the bottom panel. We have recommended TBF for some time. I expect we need to exit with a profit. If in fact stocks sell off as imagined, money will flow to short term and longer term bonds, that flight to safety thing.
T Note vs SPX
T Notes made a new low today, lower right. Stocks, SPX, are weakening, this gap will be remedied.
More tomorrow, again we expect stocks to continue to sell off.
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