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NQ, ES, ZB In The Red

By Tim KnightStock MarketsMay 15, 2018 09:10AM ET
www.investing.com/analysis/stumbling-down-the-stairs-200316300
NQ, ES, ZB In The Red
By Tim Knight   |  May 15, 2018 09:10AM ET
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I can hardly remember the last time I woke up to a red NQ, red ES, and red ZB (bonds). I think it was about thirteen or fourteen years ago. But it’s a delight to hold, and of course I’m grateful to the obvious impetus behind this move.

In particular, the weakness in bonds is key (as you well know by now). Here’s the close-up view, and as I’m typing this, bonds are down about six-tenths of a percent.

Weakness In Bonds
Weakness In Bonds

Take special note of its relative position, however. See the arrows indicate the analogous setup, and my anticipation of the break below the next horizontal.

ZB Chart
ZB Chart

One can more fully appreciate the setup with a multi-year view.

Multi-Year View
Multi-Year View

My thesis has been constant. Weak bonds —> rising rates –> suffocating equity values.

NQ, ES, ZB In The Red
 

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NQ, ES, ZB In The Red

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May 15, 2018 12:56PM ET
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I'm sure your equity shorts are still in the red, Tim
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