In today’s briefing:
- Rising Yields a Problem?; Russell 2000 Breakout; No Concern if 10Y Treasury Yield Is Below 4.2%
Rising Yields a Problem?; Russell 2000 Breakout; No Concern if 10Y Treasury Yield Is Below 4.2%
- We maintain our near-term bullish outlook on S&P 500 (SPX) and Nasdaq 100 (QQQ), which has remained in place since 4/22/25, aside from one week (11/19/25-11/25/25) when we were neutral.
- Our intermediate-term bullish outlook has been in place since 5/14/25. We’ll stay near-term bullish as long as crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ hold.
- Additionally, as discussed last week (12/2/25) we believe SPX, QQQ, and Russell 2000 (IWM) are in the midst of a new lockout rally, which is likely to run through early-2026
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