Hello everyone. The surging US10Y yield above 3% trigger sell-off, with the tech-heavy index suffered the most pain. The index has been down by over 500 points.
Look at the US 10Y yield monthly chart, I think it's coming into the solid supply zone(3.07%-3.26%). I think the possibility of penetrating the zone with the first test is very low. It may consolidate around 3% for a while before taking the next step.
VIX chart: it seems to get support on the flip level around 25. 40 is definitely hard to break.
NQ: It's hard to guess how low it might go down. By applying anchored vwap, price might test the level of 12300. The violation of previous low is a sign.
On the macro and micro level, we do need some good data and better-than-expected earning reports to get buyers coming in. Until the CPI gets controlled, market will be volatile is likely to go further down amid high inflation(crude oil ) and conflicts in Europe. Obviously, 2022 will be a tough year to make money.
What do you think? Give me a like if you are with me.
Look at the US 10Y yield monthly chart, I think it's coming into the solid supply zone(3.07%-3.26%). I think the possibility of penetrating the zone with the first test is very low. It may consolidate around 3% for a while before taking the next step.
VIX chart: it seems to get support on the flip level around 25. 40 is definitely hard to break.
NQ: It's hard to guess how low it might go down. By applying anchored vwap, price might test the level of 12300. The violation of previous low is a sign.
On the macro and micro level, we do need some good data and better-than-expected earning reports to get buyers coming in. Until the CPI gets controlled, market will be volatile is likely to go further down amid high inflation(crude oil ) and conflicts in Europe. Obviously, 2022 will be a tough year to make money.
What do you think? Give me a like if you are with me.
Note
price got support around abcd pattern before it hit 12300
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plan your trade and trade your plan
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.