Hello Traders and Investors—Yesterday we put out a report on a potential thesis on what we wanted to see in the Financial Markets this week.
If you did not see yesterdays report you can read it HERE
I am happy to say that our thesis was applicable to todays price action and I wanted to touch up and brief everyone on it so we can take away a potential understaind of what happened.
Yesterday in our report we stated:
NASDAQ was at a prior support level
10 Year Treasury Note Futures were at a support level
What we knew was the FED have been hawkish and yields rising rapidly has caused pressure on growth and espcially the NASDAQ.
Our thesis was…
If the 10 year T-Notes held the chart support level causing yields to stabalize then in result demand can potenitally move into oversold stocks and the NASDAQ (QQQ).
What Happened Today
Around 10:15 AM EST the 10 Year Treasury Note Futures bottomed intra-day and started to rally the rest of the day.
After we saw this candle on the 15 minute chart, we immediately turned our attention to the NASDAQ to look for a similar price action to follow.
*Remember: Our thesis was FIRST Yields start to calm down, THEN the NASDAQ can make its move.
Looking at the NASDAQ chart, we can see that around 10:45AM EST the NASDAQ bottomed intra-day and started to rally.
This rally came AFTER the Bond Market confirmed the price-action we wanted to see.
Stay on the look our for our next report.
The intentions of tonights letter was to brief traders and investors of what happened today and keep you up-to-date on how the report performed since it was put out.
We look forward to finding the next powerhouse potential stock and sharing our findings with our readers.
Thank you for reading our content and feel free to share our reports so other traders and investors can potentially benefit.
Best
-SC