Daily Report | 6 October 2023
Dow Jones and others ended flat on Thursday (05/10/23) as investors are on edge about the release of Nonfarm Payroll (NFP) & Unemployment Rate data this Friday (06/10/23).
Wait & See, Whether Support Holds or Not
It is reasonable if US10YT is going to pullback for a moment to test the upper channel Support, after breaking out and opening the way for strengthening towards the TARGET yield: 5.056%; moreover RSI in Overbought territory.
Daily Report | 5 October 2023
US stocks ended positive on Wednesday (04/10/23). The NASDAQ gained more than 1%, as the latest economic data showed US private payrolls increased less than expected in September.
US10YT Appears Unwilling to End This Uptrend
US10YT appears unwilling to end this uptrend, even though it is detected to be steadily breaking through the upper channel resistance, paving the way for strengthening towards a higher TARGET towards the psychological level of 5.0% yield, or precisely 5.056% yield.
Daily Report | 4 October 2023
US stock markets closed lower, with the Nasdaq leading the decline by 1.9% to its lowest point since May 31; the S&P500 closed at its lowest level since June 1, and the Dow Jones Industrial Average turned negative wiping out profits accumulated this year, as data showing surprise strength in the labor market, stoked further concerns about higher Federal Reserve interest rates, pushing Treasury yields to a 16- year high.
US10YT is Still Entrenched at 16-year Highs
US10YT is still entrenched at 16-year highs, however, it appears to be stuck in the upper channel Resistance area of 4.69% – 4.70%. RSI has entered the Overbought territory. ADVISE: let your profit run, but don’t forget to set your Trailing Stop. Need to consider SELL ON STRENGTH (Partially). MA10 Support = 4.577%.
Daily Report | 3 Oktober 2023
The Dow Jones Industrial Average slipped down 0.22% on the first trading day of October, paced by slump in energy and utilities as Treasury yields continued to march higher after the US averted a government shutdown (temporary for 45 days until Nov 17th) after the US Congress passed a last-minute budget bill before last Saturday’s deadline.
Weekly Report | 2 October 2023
The Dow Jones Industrial Average fell about 2.7% for the third quarter, while the Nasdaq and S&P 500 were still able to end the quarter with gains of about 3.6% and 3.7%, respectively.
US10YT is Still Stuck at 16-year Highs
US10YT is still stuck at 16-year highs, although approaching the upper channel resistance area 4.69% – 4.70% but still orderly moving above MA10 (= signaling the Uptrend is still strong).
