Chart of the Week - September 10, 2018
YIELDS ON THE 10-yr TREASURY APPROACHING 20-yr DOWNTREND
Yields on the 10-yr Treasury are approaching downtrend breaks on most timeframes; most significantly on a 20-yr chart.
After much movement since the start of this year, yields are back to where they were in mid-February, roughly 2.95%. Breaking the downtrend on the yearly chart is right around the corner @ 2.96%, while breaking this long-term chart posted here is at the 3.04% mark. As close as these levels are, it's not certain we see a break in yields to the upside - but if we do, there's a ton of air up there.
Chart of the Week - September 4, 2018
NASDAQ's MONTHLY RSI 2nd HIGHEST IN LAST 10 YRS
The Nasdaq has been on an absolute tear this year, last year, and for almost a decade. The indexes' two highest RSI readings, on its monthly chart, have both been this year. Today is second only to January of this year.
It wouldn't be surprising for September to be less vertical than July and August were, which combined to move at an annualized clip of 57.67%.