Here's another pair of charts from technical analyst Chris Kimble. The first chart revisits the 10-year note yield, a follow-up on this post from last week.

The second chart takes another look at what commodities might be telling us about the inflation-deflation debate, which Chris previously discussed earlier this month.

Chris comments:

Yield on the 10-year note hit a 16-year resistance line and looks like in the short-term resistance won. At the same time yields are breaking support. I find this very interesting — when the 500 index is hitting the Fibonacci 61.8% resistance line and the spread of the VXN and Nasdaq is the biggest in 10 YEARS!

Commodities may be weighing in on the great Inflation-Deflation debate. The Base Materials ETF (DBB) may be one of the first clues to this big question. Not only is DBB breaking support, but also bond yields are breaking support at the same time.

Hmm, two pieces to the puzzle fitting together?