Nasdaq 100: Bullish Reversal Remains Intact Supported by Positive Momentum in 10-year T-Note Futures
By examining the movement of the 10-year US Treasury yield with the movements of the major US stock indices. From 24 May to 29 May, the US 10-year Treasury yield rallied by 15 basis points (bps) to print a 4-week high of 4.62%, and over the same period, the major US stock indices declined (in reverse tandem) and further extended their losses to last Thursday, 30 May; S&P 500 (-1.31%), Nasdaq 100 (-1.43%), and Dow Jones Industrial Average (-2.45%).
Source: actionforex.com
