NQ CorrolariesThe Nasdaq 100 is closely correlating to a number of Instruments - LQD UUP (DX< DXY) and TLT.
JNK to a lesser degree as well.
TLT has served to be the better of these corollaries.
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I am waiting for a capitulation even in TLT with 10-year yields reaching 3%+ to 3.265 as the potential
High.
This would serve to drive the 20 Year ETF to a flush down low while providing a similar washout for NQ.
It would need to happen this week, perhaps earlier than later.
TECH is the weaker component relative to the ES and YM, the RTY is trading on its own and leading
the drive lower - although it may be consolidating in this tight range, a breakdown would imply 16x'
below 1911.
This would be very bearish and reduce the probability the Indices have put in a Sustained Low.
