Despite Tokyo’s benchmark index declining on reports of rising COVID-19 cases, global stock markets are mostly higher today.
And it looks like the correlation between the iShares 20+ Year Treasury Bond (Nasdaq: TLT) and the rest of the market is cooling off. But remember, markets move vertically and horizontally. So right now the TLT is in a sideways stage, and it could be there for a while because the last vertical phase was quite lengthy.
As you’ll see, bonds aren’t a very trendy market…
In today’s video, I’ll explain the near-term correlation between stocks and bonds… the threshold for today’s unemployment data… the most probable trading action to expect from the long bond… vulnerability in the global economic recovery due to COVID-19… market internals for both the SPY and Nasdaq… and three low-risk trade opportunities in financial stocks and ETFs.
The first financial stock I’m giving away today is rated a strong buy right now. It’s moving higher and higher, and I think it could rally to $60 per share over the next six weeks or so.
P.S. Wall Street legend Chuck Hughes has already helped traders around the globe reach their dreams.
But now he’s revealing his most shocking discovery yet…