US stock markets rocked by 3% 10-year treasury yield

Dow Jones 30

The Dow Jones 30 initially tried to rally during the trading session on Tuesday but found the 24,600 level to be a bit too resistive. Beyond that, the 10-year treasury yields in America broke above the 3% level. This was a major psychological breakout, and this has people looking for yields in the bond market, and not necessarily in the stock market. Having said that, I believe that this is a bit of an overreach and overreaction, so I think that we will eventually find buyers coming back in on signs of support. I currently believe that the 24,000 level below should be rather supportive.

NASDAQ 100

The NASDAQ 100 broke below the 6600 level during the day, in reaction to those yields. However, as I record this we are already starting to see value hunters come back into the market, and I believe that the 6500 level after that should be rather supportive. If we can form some type of supportive candle or a bounce between here and there, then I’m willing to buy this market. I am also willing to buy it if we break back above the 6600 level as it would show that value hunters have returned. Alternately, if we break down below the 6500 level, that could be rather negative and could unwind this market a bit further. I believe that we are getting cheap enough that some people were going to be looking at the NASDAQ 100.

Dow Jones 30 and NASDAQ Index Video 25.04.18