This 2-pack looks at 10-year and 30-year yields over the past 30 years. Both have remained inside of falling channel (A) during the last 25 years. The interest-rate rally over the past two years has both of them testing 25-year falling resistance at each (1).
A close-up view of each reflects that both hit channel resistance and are now attempting to “roll over” at each (2).
Lower yields might not be a good sign for stocks and the banking index. Below looks at the bank index on a long- and short-term time frame.
Keep a close eye on what banks do in the next couple of weeks. We could run into trouble if “Double Tops” are created over different time frames.