I’m in New York City this week attending a couple of investing conferences so I went by the Nasdaq to chat with Business News Network about the current market environment. I’ve been consistently bullish since last year with an upside target in the S&P500 near 2335 and that objective was achieved last month. Now we’re starting to see the breadth of momentum deteriorating on the most recent highs. The 2.3% level in the U.S. 10-year yield is the big area we’re watching. I think the resolution here in rates will tell us a lot about risk appetite for stocks as we enter the second quarter.
Here is the interview in full (requires flash player):
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Source:
Chart Attack: Be Careful Out There (BNN)
Tags: $SPY $AAPL $MSFT $XLF $TNX $TLT $QQQ