IEF (7-10 yr Treasury bond ETF) has dropped into my ORANGE ZONE with the stock market REALLY starting to take note of rising yields, as expected, with one of the biggest daily drops in the stock market in quite a while.
IEF 60m April 2nd
As highlighted in yesterday’s video, USO (crude oil ETN) popped into my ORANGE ZONE yesterday & continues to climb into it today, with the lead sled dog of inflation having the expected impact on the stock market.
USO daily April 2nd
The QQQ (Nasdaq 100 ETF) short swing trade 439 target has been hit where the odds for a reaction are elevated before the next leg down. Reaction or no reaction, my preference is to sit tight on the /NQ QQQ swing short for now with both IEF & USO both solidly within my orange zones. 15-minute chart below.
QQQ 15m April 2nd