Recent higher formation is weak compared to previous ones. It indicates the momentum is decreasing and price may consolidate for a while around the bottom of the range!
In my opinion, what scared the market is the speed of the rising yield, instead the yield itself. With losing momentum, US 10Y yield will have lesser impact on the stock market. As I mentioned previously in my idea, focus will be shifted to fundamentals, e.g. corporate earning reports.
Due to the strong economic recovery, the normalization of the yield is inevitable. To be more specific, it will go back to its pre-pandemic level of 1.9%-2% in the second half of 2021, according to estimation of some economists.
In my opinion, what scared the market is the speed of the rising yield, instead the yield itself. With losing momentum, US 10Y yield will have lesser impact on the stock market. As I mentioned previously in my idea, focus will be shifted to fundamentals, e.g. corporate earning reports.
Due to the strong economic recovery, the normalization of the yield is inevitable. To be more specific, it will go back to its pre-pandemic level of 1.9%-2% in the second half of 2021, according to estimation of some economists.
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plan your trade and trade your plan
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