Technicals - US bond yields, US dollar, Dow Jones and S&P500

Angela Mangan

QMG Pty Ltd

The US 10 year bond yields originally experienced a trend change (i.e. expectation for further upside) on 5/8/16 at 1.59%. Last night a further upside technical break above key resistance occurred, which indicates the potential for the next upward move in US bond yields. Major resistance is now located at 1.89% - the minimum expectation for an increase (refer to first chart below). This co-incided with the USD dollar index (DXY) also experiencing a secondary upside technical break last night. The minimum upside technical target is located at 99.80 (refer to second chart below). The USD/JPY generated a technical buy signal late last week, with the upside target located at 107.50. Relating to the key US indices, both the Dow Jones and S&P500 indices previously generated technical sell signals in early September and remain rated as technical sells, with the downside targets located at 17,480 and 2075 respectively.


Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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