The month of April ended with a whimper amid a very choppy tape and some fresh all-time highs thrown in the mix.
After 7 consecutive months of higher highs, the grinding nature of the indices suggests we are now at somewhat of a stalemate or at least a point of consolidation where it makes putting fresh money to work a tricky proposition.
With the new trading month, there are now some real downside risks if we see last month’s lows on the indices tested.
Last week I called out your attention to the potential weekly reversal in bonds and gold. This week keep a close eye on the yields of US 10 Year to see if it begins to edge higher.
Here are some of the ideas in this week’s video: