In The Grand Scheme Of Things: US10YT

By Candy Matheson of Strawberry Blonde's Market Summary

Blogger & Retired Russell 2000 E-mini Futures Day Trader • Feb 25, 2021 at 5:55 PM EST

A rising US dollar and a falling Financials sector may see buyers continue to support the US10YT.

After today's gain, the US10YT now sits just above a 10-year major resistance level around 1.50%, as shown on the following monthly chart.

In the grand scheme of things (since 1955), it's still well below normal.

Upside major resistance levels/targets are 2.00% and 3.00%...but a drop and hold below 1.50% could see it return to 1.00%.

We may see it consolidate for a while before its trend becomes clearer, but currently, momentum favors buyers.

Keep an eye on the short-to-medium-term movements of the DX and the XLF for clues, as I've described here and here. A rising US dollar and a falling Financials sector may see buyers continue to support the US10YT.

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