Bond Sentiment is extremely oversold – where Major bottoms formed.
The 21dma is at bottom 1.7% in history – watch for a turn UP at any moment.
A turn in Bonds would be very Bullish for Growth Stocks and Precious Metals/Miners – which have been quietly *basing* for weeks. pic.twitter.com/k60UlH6LEi
— Macro Charts (@MacroCharts) March 19, 2021
Today’s Chart of the Day was shared on Twitter by Macro Charts (@MacroCharts). The chart shows the U.S. 30-year Treasury Bond over the past two decades. Treasury Bonds have been getting whacked for months now and the sell-off has really accelerated in recent weeks. However, we’re starting to see signs that Bonds may be due for a bounce in the near-term. Macro Charts points out that a sentiment indicator known as the DSI has fallen to extremely low levels that have historically coincided with major bottoms. Macro Charts adds that a rebound in Bonds would be bullish for Growth stocks as well as Precious Metals & Miners. Will Bonds rebound next week? Stay tuned!