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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (18612)6/22/2001 2:35:43 PM
From: Crimson Ghost  Read Replies (2) of 30051
 
I don't know if you have noticed, but the 10-year T-bond yield has dropped from 5.5% to 5.15% the last few weeks. This together with the fall in the stock market has removed some of the overvaluation from the S&P 500. Now just 10-15% overvalued versus 25% a few weeks ago.

This tells us nothing about near-term direction, but makes a strong bounce more likely when the worm turns IMHO.
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