Back and forth
It’s been wild ride in equities today but with Treasury yields negative across the board, the stock market is cheering.
The S&P 500 is up 41 points to 3808, which is 75 points from the intraday low.
The FX market has been mostly sitting out these moves but there has been some upside in commodity currencies in the past hour.
Technically, a close above the March trendline would be a bit of a win, but it’s tough to say it’s held after the close below yesterday. The good news is that the Feb low wasn’t really challenged, though it’s a different story in tech.
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