What Do Stock Market Bulls Have Left?
January 22, 2022
If Crude Oil is above former highs. And 10s are above the March highs, then how bad could things be?
But as we discussed at length on this week's call, the bearish argument for equities starts with a failed breakout in the US 10yr Yield.
And at this point, I would throw Crude Oil into that same category.
If we lose these two above, there's not much left for stock market bulls to hang their hat.
That's why commodities matter. That's why the bond market matters.
It might not matter to you, but it matters to what actually moves stock prices.
JC
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Opportunities in Natural Resources