What’s wrong with the housing market?
The 10-year notes market made a big reversal today following the CPI data. This move could continue following the US retail sales tomorrow as economists are expecting a downtick in US consumer spending.
We are far from a reversal, but given the big "outside day" bullish reversal candle near key long-term support near the 109'00 level, we could see a much bigger reversal unfold in the market.
Two days ago, the chart of the day was the USD/CNH and the correlation of yields in the 10-year and 30-year markets.
If the above holds true, we could see a reversal lower in the USD/CNH and perhaps the broad US Dollar market as well.
To be extra sure that a key reversal is developing, we would be looking for a move back above the 50dma, which capped the rally on Friday, September 1st. 
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI