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Chris Kimble, a 30-year+ market technician and student of Sir John Templeton, starts the business week with a leading question.
Chris explains: Interest rates and base materials have been quality leading economic indicators as well as leading stock market direction indicators.
Recently both found themselves at the bottom of falling channel support, yet in the very short run (as has been the case occasionally in the past) they are moving in different directions.
DBB is moving higher off of support and yields are breaking support.
With the S&P 500 index on neckline support, yield action becomes a leader that one should watch closely. See my Friday post Be Prepared, which featured the chart below.
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