TIPS Turned Positive For The First Time In Two Years! DJ30 Could Appear With Reversal.
The recent US stock market earnings season, the DJ30 is strongly supported by dips.
Investors are recommended to consider marginal Long at near 34640, Target 35200, Stop-Loss by 34400.
The U.S. 10-year inflation-protected bond (TIPS) yield broke through negative territory yesterday, hitting positive territory for the first time since March 2020, implying lower inflation expectations and higher bond yields. Gold for instance and other interest-free precious metals are even less attractive, and some safe-haven hot money is expected to flow from gold to stock indexes. BNP Paribas strategist Max Grinacoff said the sectors that actually rose were defensive stocks, and rising yields could be more positive for bank stocks. On the whole, DJ30 has strong support on dips (defensive stocks + banking sector), plus it is the earnings season for US stocks.
In the D1 range, the quotation is located on the upper track of Bollinger, indicating a bullish pattern. The sub-indicator MACD bearish kinetic energy continues to converge and superimpose the KD fast curve, which is beneficial for investors to make bullish layouts.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.