/ZN, 10-yr Treasury bond futres (or IEF, TLT, /ZB, etc..) offers an objective long entry here at dual support with positive divergence & either a tight stop somewhat below or a stop below that next support at 109’100ish. While support is support until & unless broken, a solid breakdown & continuation of the downtrend would be a headwind for the stock market (it would also bring IEF into my ORANGE ZONE, which it is currently testing from above). 120-minute chart below.
ZN 120m April 11th
/NQ (Nasdaq 100 futures as well as QQQ, SPY, etc..) is still in a near-term uptrend (higher-highs & higher lows) since the April 6/7 double-bottom with a punch above the recent highs to keep the uptrend intact. The 60-minute chart below shows a potential uptrend line support which “ideally” should contain any pullback today, although /NQ is also currently trading at the 18338ish price support right now & could potentially rally off that level. 15-minute chart below.
NQ 15m April 11th
I’ve also added to my grains positions (wheat, corn, & soybeans) for the second time this week, as I continue to see bullish price action this week with both the long-term & short-term charts still constructive. Plus, I continue to keep my equity (long) positions on the lighter side for now, especially as we head into the weekend as I look to maintain a diversified portfolio with uncorrelated asset classes (Bitcoin, Ethereum, equities, crude oil, select commodities & now Treasuries).