D&D Note (4.23.2018) ~ 10YR Yield Hits 2.975% Markets Pause ~ #StockMarket #10YRyield

D&D Note (4.23.2018) ~ 10YR Yield Hits 2.975% Markets Pause ~

Monday saw Treasury Yields spike again with the 10YR yield hitting 2.975%. We are undoubtedly moving into a new trading range were 3% will be come the new floor. The new “shock” level to spark equity declines could be around 3.3% to 3.4% with the ceiling of the trading range being around 3.5% before jumping to the next trading range of 3.5% to 3.9%.

The Sohn Conference is currently happening and the large Hedge Fund managers have been speaking about their 2017 performance and their 2018 trading ideas. A company that jumped higher on the day from the conference was BOX on the back of their AI play. Another trading idea coming out was to short Facebook, however this wasn’t a widely spread notion.

This week there are a lot of major earnings coming out which will be the main driver of market action each day. After the bell Alphabet (Google) reported an earnings beat and shares rose as Cost Per Click (CPC) were down less than expected.

Pot Stocks largely had a 420 hangover in trading today. As we look at the charts this sector appears to be an an inflection point where many are holding on to breakouts or looking to breakout. Watch volume levels on these stocks to see when investors in mass re-enter the market in either buying or selling.

Here are the 6month charts for D&D’s Pot Holdings (Note except for MEDFF we’ve been holding these for a year now and rode the wave up, took gains, and reinvested as prices fell back down) of TWMJF, APHQF, IMLFF, MEDFF, CNTTF:

TWMJF

APHQF

IMLFF

MEDFF

CNTTF

D&D movers:

– PKG up 1.02%

– RDS.A up 0.64%

– BAC up 0.20%

– CNTTF up 0.14%

– TWMJF down -7.04%

– APHQF down -5.65%

– IMLFF down -3.90%

– MU down -3.16%

Indexes

– DOW down -0.06%

– NASDAQ down -0.25%

– S&P down -0.01%

Sector Movers:

– Telecom up 1.08%

– Energy up 0.61%

– Health up 0.41%

– Technology down -0.40%

– Materials down -0.30%

– Consumer Staples down -0.15%

Notes

– US 2-YR 2.478% (up 0.021)

– US 10-YR 2.975% (up 0.024)

– US 30-YR 3.145% (up 0.003)

Volatility

– VIX 16.64 (down -1.42%)

Crypto (1:00 PST)

– BTC $8,850.00

– ETH $636.57

– BCH $1,374.47

– LTC $150.19

Metals

– Gold $1,326.10 down -0.91%

– Silver $16.61 down -3.22%

– Copper $3.108 down -0.86%

Energy

– Oil $68.98 up 0.85%

– Brent $75.05 up 1.34%

– Nat Gas $2.742 up 0.11%