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After trying to put together a bounce, Treasury prices (TLT -0.9%) again head south in earnest,...

After trying to put together a bounce, Treasury prices (TLT -0.9%) again head south in earnest, the 10-year yield rising to 2.48%. The move has taken the steam out of an early stock rally, the S&P 500 returning to flat and the Nasdaq 100 (QQQ -1.2%). Leading the decline in the Nasdaq is an 8.3% dive in Oracle. When is that move to the NYSE taking place?
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Comments (5)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Equity index markets are tracking 10yr futures fairly well today.
    21 Jun 2013, 11:53 AM Reply Like
  • june1234
    , contributor
    Comments (3370) | Send Message
     
    Rising rates is what markets are truly worried about and without fed support they will rise. selloff is across the board bonds, equities commodities; has nothing to do with US economy
    21 Jun 2013, 12:01 PM Reply Like
  • aarc
    , contributor
    Comments (2950) | Send Message
     
    This is more a technical trade than anything else:

     

    >> SnP500 Daily Chart: http://bit.ly/11ShQDw

     

    When SnP500 (and Dow Jones) broke below their 50ma Supports; it caused panic selling among the Day-Traders.

     

    For Swing Traders, the 1576 was the all-time-high in October 2007 taken out last month.

     

    For traders, it is important that the breakout level of 1576 be re-tested on a pullback down in order to determine the resiliency of the rally.
    21 Jun 2013, 12:53 PM Reply Like
  • aarc
    , contributor
    Comments (2950) | Send Message
     
    Daily Chart won't show in this comment. See my Taper Turmoil Instablog with an Addendum at 1:09pm (which shows the Daily Chart TA).
    21 Jun 2013, 01:13 PM Reply Like
  • financeminister
    , contributor
    Comments (1065) | Send Message
     
    Maybe the feds are doing what Alan Greenspan did when he wanted to curtail "irrational exhuburance". So maybe we can expect more?
    21 Jun 2013, 01:26 PM Reply Like
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