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5-year YIELD edges above 3.4%

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The 5-year Treasury YIELD ($FVX.X) 3.411% has edged above the 3.4% level where we were monitoring for a relative high YIELD and a "buy signal" on the point and figure YIELD chart ("buy signal" on YIELD associated with "sell signal" on bond). This may have some traders monitoring their premium execution levels to see if any computerized "buy/sell" programs are generated at the premium levels given out each morning from HL Camp & Company in our 09:00 EST Updates.

5-year YIELD Chart - Daily Interval

I can't type nearly fast enough, but as a benchmark, the NYSE Composite ($NYA.X) is trading 501.80 +0.36%, Dow Industrials (INDU) 8830 +0.14%, S&P 500 (SPX.X) 934 +0.45%, S&P 100 (OEX.X) 471 +0.32% and NASDAQ-100 (NDX.X) 1002 +2.14% as this action unfolds.

After a rather "exciting" morning session, stocks have really traded rather quiet as the weekend approaches.

Volume is running just over 1 billion shares on both the NYSE and NASDAQ Composite.

Breadth is bullish today with advancer leading decliners by a 3 to 2 margin at both the NYSE and NASDAQ and its been quite some times since I've seen such evenly matched breadth between these two broad market averages.

New highs versus new lows continues to narrow somewhat at the NYSE, with 42 stocks still hitting new lows, while 30 stocks achieve new highs. NASDAQ new lows versus new highs still remains rather "wide" on a daily basis with 100 stocks hitting new lows and 27 at new highs today.

Currently monitoring this short-term YIELD move in the 5-year to see if it brings in some upside stock action into the close.

As I finish typing here, the bond market is close with the shorter-term 5-year YIELD ($FVX.X) 3.411 closing out. Stocks are on their own from here.

Jeff Bailey
Senior Market Technician
Option Investor


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